Exchange-Traded Fund Volatility | TR Korea (02848) Plummets Over 9% in Afternoon Trading as KOSPI Index Crashes More Than 8%, Deepening Losses for Memory Chip Giants

Stock News06-23 14:24

The TR Korea ETF (02848) saw its losses widen significantly in afternoon trading, plunging more than 9%.

As of the latest update, the fund was down 9.15%, trading at 1,955 Hong Kong dollars with a turnover of 5.9869 million Hong Kong dollars.

This sharp decline follows a broader market crash in South Korea, where the KOSPI index plummeted over 8% on June 23, triggering circuit breakers.

Among individual stocks, SK Hynix Inc fell more than 11%, and Samsung Electronics Co Ltd dropped over 8%.

The sell-off intensified for leading chip stocks as market participants grew concerned that the recent rally had become overextended.

In related news, South Korean authorities are reportedly considering measures to mitigate risks associated with leveraged single-stock exchange-traded funds that track Samsung Electronics and SK Hynix.

The TR Korea ETF is designed to track the MSCI Korea 25/50 Index, which primarily includes major industry leaders such as Samsung, SK Hynix, Hyundai Motor Co, and Shinhan Financial Group Co Ltd.

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