On July 9, CSOP 2x Long SK Hynix (07709) surged 14.53% in regular trading, trading at HKD 92.56 per share, with turnover of HKD 790 million.
On the news front, the rally is closely tied to the rebalancing mechanism of leveraged ETFs tracking SK Hynix. The Korean market has previously experienced multiple instances of significant single-day price swings in SK Hynix driven by this mechanism, and the surge in the Hong Kong-listed leveraged ETF represents an extension of this phenomenon. Additionally, the Nasdaq exchange announced that SK Hynix is expected to officially begin trading on July 10, with the approximately USD 28 billion ADR listing imminent. Positive expectations combined with the leverage amplification effect further intensified intraday volatility.
Notably, this rebound follows a period of sharp fluctuations for the product, which declined over 5% in the previous session amid elevated short-selling pressure and regulatory uncertainty in Korea regarding single-stock leveraged ETFs.
(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.)