Bloomberg Daybreak: Asia Edition South Korean Stocks Rebound, China NPC Begins, Goldman Sachs CEO David Solomon
11 snips
Mar 5, 2026 Leon Ting Tu, Managing Editor for Asia Equities at Bloomberg, explains South Korea’s sharp rebound and China’s cautious NPC growth targets. David Solomon, CEO of Goldman Sachs, discusses macro risk, private credit froth and a cautiously optimistic view on AI. They explore market reactions to geopolitical shocks, retail leverage in Korea and the outlook for credit and tech-driven gains.
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Levered Retail Fueled Korea's Crash And Bounce
- South Korea's plunge was driven mainly by leveraged retail positions and forced liquidation.
- Retail investors had taken record margin debt and brokerage deposits, amplifying the 12% KOSPI drop and next-day technical rebound.
Global Flows Ignored Local Panic In Korea
- Global investors treated Korea's tech/AI narrative as intact despite the local plunge, continuing to buy the US-listed Korea ETF overnight.
- Leon Ting Tu noted EWY saw inflows and was up overnight, signalling overseas confidence in Korea's AI/memory chip positioning.
China Sets Modest Growth Target And Seeks Quality
- China's NPC set a modest 2026 GDP target of 4.5%–5%, emphasising 'quality' over headline growth.
- Markets saw the range as telegraphed and not market-moving, with focus shifting to consumption-boosting details that remain vague.