On July 16, CSOP 2x Leveraged SK Hynix declined 22.4% in regular trading, trading at HK$58.62/share with turnover of HK$1.133 billion.
The sharp decline was triggered by multiple headwinds. The Bank of Korea announced a 25-basis-point rate hike to 2.75%, its first increase in over three years, sending KOSPI down more than 5% and triggering the exchange's SIDECAR mechanism to halt program trading. SK Hynix fell 10% on the Korean exchange while Samsung Electronics dropped 7%. Overnight, US-listed memory stocks also suffered heavy losses, with SK Hynix and Micron Technology each falling over 8%. Additionally, the Korea Financial Investment Association proposed raising the minimum margin threshold for single-stock leveraged ETFs from 10 million to 50 million Korean won, further intensifying selling pressure. Large block sell orders exceeding tens of millions of Hong Kong dollars were observed intraday, indicating significant institutional outflows. As a 2x leveraged product, the ETF's daily rebalancing mechanism amplified the underlying stock's losses.
(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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