On July 8, Southern 2x Long SK Hynix (07709) rose 9.54% in regular trading, trading at 97.44 HKD/share, with turnover of 662 million HKD.
On the news front, Nasdaq confirmed that SK Hynix is expected to officially begin trading on July 10, injecting strong positive expectations into the market. Reports indicate the approximately 28 billion USD ADR offering has already received multiple times oversubscription ahead of Thursday's pricing, with around 1,000 institutional investors attending the management roadshow call on Monday. Boosted by this sentiment, SK Hynix shares surged in early trading with gains expanding to 4%, driving the Korean KOSPI index higher.
As a 2x leveraged long product tracking SK Hynix, the ETF's gains were amplified accordingly. This rally follows a sharp decline in the prior trading session when the product fell over 18%, reflecting rapid sentiment reversal. UBS has recommended buying SK Hynix ADRs over Korean-listed shares, citing expected premium pricing. Investors should remain mindful of the elevated volatility risks inherent in leveraged products.
(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.)