On October 2, Direxion Daily MSCI South Korea Bull 3x Shares rose 8.2% in pre-market trading, trading at approximately $22.79/share, with turnover of $33.44 million. Multiple tailwinds converged to drive a sharp rebound in the 3x leveraged Korean equity ETF.
On the data front, Korea's September exports surged 83.5% year-over-year to $120.94 billion, setting a single-month record. Semiconductor exports were the core engine, soaring 262.8% to a record $60.3 billion, accounting for nearly half of total exports. Cumulative exports for the first nine months exceeded $800 billion, already surpassing the prior full-year level.
Meanwhile, Micron Technology reported fourth-fiscal-quarter revenue of $54.23 billion, up 379% year-over-year and above consensus estimates, with adjusted gross margin reaching 87%. Management projected further tightening in memory supply-demand conditions through 2028, reinforcing bullish sentiment toward Samsung Electronics and SK Hynix, which together represent roughly half of Korea's equity market capitalization.
The fund invests at least 80% of its net assets in financial instruments providing daily leveraged exposure to the MSCI Korea Index, covering approximately 85% of the free-float-adjusted market capitalization of South Korean issuers. It is non-diversified.
(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.)
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