“From 44,385 won to 4,880 won in a plunge” ... SK Hynix leverage surges 15%, swinging as wildly as a gambling den

[Financial News] The SK Hynix single-stock leveraged product has been setting record lows day after day, with its price falling from above 40,000 won at one point to the 4,000-won range. But after SK Hynix shares themselves rebounded sharply in a single day, the leveraged product’s price also recovered to around 5,000 won.

According to the Korea Exchange and other sources on the 21st, the seven SK Hynix single-stock leveraged products closed in the 4,000-won range on the previous day (the 20th), down around 9% from the previous trading day. This was the first time they had fallen below 5,000 won on a closing-price basis.
KODEX, which has the larger trading volume, fell 9.38% to close at 4,880 won, while TIGER fell 9.84% to 4,125 won.
However, as SK Hynix and Samsung Electronics shares rebounded by around 4% to 6% as soon as the stock market opened that day, the leveraged products were posting gains more than twice as large. As of 9:31 a.m., KODEX SK Hynix Single Stock Leverage was trading at 5,610 won, up 15.06%.
These products, which track twice the daily returns of Samsung Electronics and SK Hynix, were listed at 20,000 won on May 27. At one point, the KODEX SK Hynix single-stock leveraged product rose as high as 44,385 won, while the Samsung Electronics single-stock leveraged product topped 30,000 won. But both continued to fall as the underlying shares underwent a correction.

From the 1st through the 20th of this month, KODEX SK Hynix Single Stock Leverage plunged 54.86%, while TIGER SK Hynix Single Stock Leverage fell 55.16%.
Since the start of this month, KODEX Samsung Electronics Single Stock Leverage has fallen 39.98%, while TIGER Samsung Electronics Single Stock Leverage has dropped 40.49%.
The net assets of the 16 products—14 single-stock leveraged products and two inverse products—totaled 3.8542 trillion won as of the 19th, down 23.0% from 5.0075 trillion won on their first day of listing.
As of the 20th, the 16 products had a combined trading value of 570.6 billion won and a market capitalization of 3.5751 trillion won. The KOSPI closed at 5,552.74, down 3.73%. Samsung Electronics fell 3.21%, and SK Hynix dropped 4.93%.
By investor category, foreign investors were net buyers of 2,776,151 shares and institutions bought a net 791,064 shares, while individual investors sold 3,760,687 shares.
[email protected] Kim Su-yeon Reporter