The Direxion Daily MSCI South Korea Bull 3x Shares (KORU) experienced a significant pre-market plunge of 8.33% on Monday, indicating heavy selling pressure ahead of the regular trading session.
The sharp decline appears driven by escalating geopolitical tensions in the Middle East, particularly between the U.S. and Iran, which has weakened market risk appetite. The South Korean won depreciated substantially against the U.S. dollar, with the USD/KRW pair rising as much as 1.5%, while Brent crude oil futures surged by up to 7.9%. These factors created a risk-off environment that negatively impacted the leveraged ETF tracking South Korean equities.
Comments