Stock Track | Direxion Daily MSCI South Korea Bull 3x Shares Soars 17.83% Intraday on AI Tax Scare Clarification and Technical Rebound

Stock Track05-14

Direxion Daily MSCI South Korea Bull 3x Shares (KORU) soared 17.83% during intraday trading on Wednesday, marking a sharp recovery for the leveraged exchange-traded fund.

The significant gain represents a technical rebound following a steep decline in the previous session. The recovery was primarily driven by clarification from Korean Presidential Policy Office Chief Kim Yong-beom, who stated that his proposal for a "citizen dividend" funded by AI industry profits was not intended as a new windfall tax. The initial remarks had triggered panic selling as markets feared punitive levies on semiconductor firms' excess profits.

Market analysts attribute the intraday recovery to opportunistic buying by retail investors who stepped in to purchase shares amid the rebound. The previous session's sell-off was also amplified by an escalating Samsung strike crisis and substantial outflows from Korean equity ETFs, with BlackRock's iShares MSCI South Korea ETF recording $970 million in net outflows during the prior week. Despite the recent volatility, some analysts note that the underlying investment thesis supporting South Korean equities—particularly related to artificial intelligence infrastructure capital expenditure—retains positive momentum.

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