SK Hynix, Samsung Tumble Sharply; Chip-Linked Leveraged HK ETFs Collapse Over 29%

Tiger Newspress

07/02

South Korea’s benchmark KOSPI Index extended its intraday losses to 7% amid a broad market sell-off. Leading tech heavyweights bore the brunt of the slump, with SK Hynix plunging more than 12% and Samsung Electronics tumbling over 9% on the day.

The sharp decline of South Korea’s blue-chip tech stocks triggered a catastrophic crash in Hong Kong-listed leveraged ETFs tracking the Korean giants. CSOP SK Hynix Daily (2x) Leveraged Product nosedived 26%, while CSOP Samsung Electronics Daily (2x) Leveraged Product drop of over 29% during the trading session.

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