On September 17, Direxion Daily MSCI South Korea Bull 3x Shares rose 11.32% in regular trading, trading at $20.33/share, with turnover of $167 million. The rally was driven by a convergence of favorable catalysts following a sharp selloff earlier in the week.
On the macro front, the U.S. 10-year Treasury yield declined 5 basis points to 4.97%, easing interest rate pressure and lifting valuation expectations for South Korea's export-oriented economy. Meanwhile, the memory chip sector strengthened broadly, with SK Hynix and Western Digital rising nearly 2% and Micron Technology gaining over 1%. Goldman Sachs maintained its Buy ratings on Samsung Electronics and SK Hynix, forecasting Q3 average selling prices for both DRAM and NAND to rise approximately 20% quarter-over-quarter, and projecting HBM average prices to double next year.
The ETF had plunged over 15% in a single session on September 14 amid multiple headwinds including Middle East tensions, elevated Fed rate hike expectations, and AI development slowdown calls from major tech leaders. The current rebound reflects oversold recovery momentum significantly amplified by the fund's triple-leverage mechanism.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
The fund invests at least 80% of its net assets in financial instruments, such as swap agreements, ETFs that track the index, securities of the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is designed to measure the performance of the large- and mid-cap segments of the South Korean equity market, covering approximately 85% of the free float-adjusted market capitalization of South Korean issuers. It is non-diversified.
Comments