South Korean retail investors held 93.5499 trillion won ($69.5 billion) in brokerage deposits as of September 4, the lowest level in about eight months, while margin loan balances rose for a fourth straight session. The Korea Financial Investment Association released the figures on September 7. Deposits fell 4.2115 trillion won ($3.1 billion) from the previous trading day and reached their lowest point since January 16, when they stood at 91.2181 trillion won ($67.8 billion). These funds are commonly viewed as stock-market standby cash and decline when investors buy shares or withdraw money. The drop came even as retail investors recorded net sales of 3.7225 trillion won ($2.8 billion) on the KOSPI, suggesting that sale proceeds may have been transferred to banks or other investment vehicles. At the same time, margin loans (brokerage funds borrowed to buy stocks) reached 33.5958 trillion won ($25.0 billion), up 53.7 billion won ($39.9 million) from the prior day and nearing the 34.3701 trillion won ($25.6 billion) peak recorded on July 15. Margin receivables also climbed above 1 trillion won to 1.0519 trillion won ($782.0 million), while forced liquidations (compulsory sales to cover unpaid debts) rose to 26 billion won ($19.3 million). The forced-liquidation ratio more than doubled to 2.6% from 1.1%. The figures point to a split retail market, with some investors reducing idle cash while others continue short-term, credit-backed trading. Analysts suggest deposits may recover slowly until the KOSPI establishes a clearer direction after trading below the 7,000 level for more than two months.