CSOP SK Hynix Daily (2x) Leveraged Product surged 9.05% in early trading on Wednesday, tracking a sharp rise in its underlying asset.

The South Korean stock market reversed early losses during the session, with the KOSPI index turning positive. Semiconductor giant SK Hynix Inc saw its shares rise significantly, initially gaining 2% before widening to 4%.

As a leveraged product designed to deliver twice the daily return of SK Hynix, the ETF's substantial gain reflects the strong performance of the chipmaker's stock in the market.