In early 2016, when Kim Jong Un was hitting the headlines almost daily with threats (and missile tests), the Korean stock market tumbled reflexively as 'risk' was priced into equity markets.
That is a very different picture to what is happening now.
(Note the correlation – lower pane – between "nuclear, Korea" stories and the price of the Korean stock market is now strongly positive (as opposed to the more rational negative 'norm')
As the threat of global thermonuclear war surges amid US-North Korean tensions, 'investors' are piling into South Korean stocks, sending the KOSPI to a new record high…
So as the title suggests… WTF!
via http://ift.tt/2qxX7Z2 Tyler Durden