Direxion Daily Semiconductors Bear 3x Shares (SOXS) experienced a 24-hour plunge of 5.58% intraday. The fund, which seeks to provide three times the inverse daily performance of U.S. semiconductor stocks, declined as the underlying semiconductor sector showed strength.
The drop in the inverse ETF coincided with positive developments in the global semiconductor industry. Mitsui Fudosan, a major Japanese real estate company, announced its participation in the Kumamoto Science Park project, aiming to form a semiconductor industry cluster in northern Kumamoto Prefecture. The project, located near advanced factories operated by Taiwan Semiconductor Manufacturing Co. (TSMC) and Sony group, is expected to support the "New Silicon Island Kyushu" initiative and attract dozens of companies, bolstering confidence in the sector's growth prospects.
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