South Korean leveraged ETFs are gaining strength, with the CSOP SK hynix Daily Leveraged 2X Product (07709) rising 10.27% to HK$24.7 and the CSOP Samsung Electronics Daily Leveraged 2X Product (07747) climbing 7.68% to HK$53.26 as of press time.
The South Korean stock market reversed its earlier losses today, with the KOSPI index extending its intraday gain to 3%. SK hynix (KRX: 000660) rose more than 5%, while Samsung Electronics gained nearly 3%.
South Korean President Lee Jae-myung, in an address to the National Assembly today, stressed the need for a comprehensive shift in growth strategy to overcome the limitations of "K-shaped growth." He specifically noted that the government will continue to expand investment in future growth drivers such as artificial intelligence, which has been a key focus over the past year and five months.
Strong global demand for artificial intelligence investment has driven a significant increase in South Korea's chip shipments, with the country's October exports nearly doubling to mark the largest increase in more than 50 years.
Kiwoom Securities analyst Han Ji-young said the stock market has once again entered oversold territory while fundamentals remain solid and corporate earnings expectations are improving. The better-than-expected October export data also raises the possibility of further upward revisions to consensus earnings forecasts.
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