CSOP SK Hynix Daily (2x) Leveraged Product experienced a significant intraday decline of 5.08% on Friday. The leveraged exchange-traded product, which tracks South Korean memory chip giant SK Hynix with double daily leverage, faced substantial selling pressure during the trading session.

The sharp drop was primarily driven by profit-taking activity, as the ETF had surged 14.53% in the prior trading session, prompting investors to lock in gains. Additionally, the finalized pricing of SK Hynix's American Depositary Receipts (ADRs) at $149 per share, representing approximately a 3.1% premium to the Korean stock's closing price, contributed to the downward pressure as the underlying SK Hynix shares in Korea saw early gains of over 5% narrow significantly throughout the session.

The leveraged structure of the product amplified the intraday drawdown through its daily rebalancing mechanism, exacerbating volatility as the underlying stock's gains contracted rapidly. This combination of factors—profit-taking after substantial prior gains, the ADR pricing outcome, and the inherent mechanics of leveraged ETFs—explains the pronounced intraday decline in the CSOP SK Hynix 2x Leveraged Product.