On September 17, Direxion Daily MSCI South Korea Bull 3x Shares rose 8.04% in pre-market trading, trading at approximately $19.68/share, with turnover of $22.32 million.
On the news front, the U.S. 10-year Treasury yield dropped 5 basis points to 4.97%, easing rate pressure and lifting valuation expectations for South Korea's export-driven economy. Goldman Sachs maintained Buy ratings on Samsung Electronics and SK Hynix, forecasting Q3 DRAM and NAND average selling prices to rise approximately 20% quarter-over-quarter, bolstering sentiment across the memory semiconductor supply chain.
The ETF had plunged over 15% on September 14 amid a confluence of headwinds including escalating Middle East tensions, elevated Fed rate-hike expectations following the August CPI print, and AI development slowdown concerns that hammered Korean chipmakers. The current pre-market rebound is driven by an easing of those macro pressures combined with oversold recovery momentum, with the fund's triple-leverage structure amplifying the move significantly.
The fund invests at least 80% of its net assets in financial instruments providing daily leveraged exposure to the MSCI South Korea Index, covering approximately 85% of the free float-adjusted market capitalization of South Korean issuers. It is non-diversified.
(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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