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

Tiger Newspress

Jul 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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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.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}