On July 29, Direxion Daily MSCI South Korea Bull 3x Shares rose 8.06% overnight, trading at $15.43/share, with turnover of $7.7975 million. The ETF staged a technical oversold rebound following a more than 20% collapse in the prior session triggered by a broad chip stock selloff that dragged Korean equities sharply lower.

On the news front, JPMorgan previously indicated that leveraged ETF unwinding in Korean stocks had been approximately 75% completed, suggesting that selling pressure was being released on a phased basis. Meanwhile, Korea's National Pension Service turned net buyer of KOSPI constituents in July for the first time this year, with SK Hynix receiving net purchases of 425.8 billion won, sending a positive signal for the recently pressured Korean market. The triple-leveraged structure that amplified losses on the way down is now magnifying recovery elasticity on the rebound.

The fund invests at least 80% of its net assets in financial instruments, such as swap agreements, ETFs that track the index, securities of the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is designed to measure the performance of the large- and mid-cap segments of the South Korean equity market, 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.)