CSOP SK Hynix Daily (2x) Leveraged Product plummeted 7.24% at the start of trading on Friday, opening at HK$29.22. The sharp decline in the leveraged product was driven by a significant drop in the underlying asset, SK Hynix, in US overnight trading.

SK Hynix's US-listed shares (SKHY) fell nearly 5% to $143.53, extending a recent downward trend. This sell-off was part of a broader weakness in the technology sector, pressured by post-earnings selloffs in companies like SpaceX and AMD, which pulled the Nasdaq lower. The negative sentiment also impacted the Korean market, where the KOSPI index had plunged over 3% and SK Hynix's Korean shares dropped more than 7%. Additionally, reports that SK Hynix and Samsung Electronics are evaluating Chinese semiconductor equipment as a contingency against US export control risks further weighed on market sentiment.

As a two-times leveraged product, CSOP SK Hynix Daily (2x) Leveraged Product amplifies the daily performance of the underlying stock, leading to magnified losses when SK Hynix declines. This product has been particularly volatile, already suffering a sharp decline of approximately 19% in the previous trading session amid a broader memory chip sector selloff.