Leveraged ETFs Tracking South Korean Stocks Plunge, CSOP SK hynix Daily Leveraged (2x) Product (07709) Drops Over 10%

Stock News14:36

Leveraged ETFs tracking South Korean equities fell sharply. As of press time, the CSOP SK hynix Daily Leveraged (2x) Product (07709) dropped 10.51% to HK$21.80, while the CSOP Samsung Electronics Daily Leveraged (2x) Product (07747) declined 8.09% to HK$47.72. The two products recorded turnover of HK$1.866 billion and HK$326 million respectively.

On the news front, South Korean stocks opened lower and drifted further down today, with Samsung Electronics and SK hynix falling more than 4% and 5% respectively during intraday trading. On Monday, the Philadelphia Semiconductor Index closed down 3.37%. The double blow from Oracle's US$20 billion equity and debt financing and Marvell's hundred-billion-dollar merger further illustrates that market anxiety over the "cash-burn rate" of the AI supply chain is transmitting from the sentiment level to the pricing level.

It is worth noting that the current midterm elections combined with rate hike expectations will exacerbate volatility.

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