South Korea’s SK Hynix fell 15.4% on July 13, marking its biggest single-day drop on record, according to a report cited by TechFlow via CLS. The move hit leveraged products tied to the stock, with the CSOP 2x Long Hynix ETF plunging 33% in the same session.
The ETF is now down 69.07% from its June 25 record high in trading price. Earlier, its assets had climbed past HK$130 billion in late June. Eastmoney data shows the fund’s latest assets have dropped to HK$69.3 billion, close to half of the previous peak.
Another CSOP product linked to Korean chip stocks also posted steep losses. The CSOP 2x Long Samsung Electronics ETF fell more than 20% on the day and is down 63.33% from its June 3 record high.
SK Hynix shares fell 15.4% on July 13, setting a record for the stock’s biggest single-day decline, according to a CLS report cited by TechFlow. The drop dragged down the CSOP 2x Long Hynix ETF, which plunged 33% on the day.
Based on its trading price, the ETF has retreated 69.07% from its record high on June 25. The product’s assets had previously topped HK$130 billion in late June. Data from Eastmoney shows its latest assets have fallen to HK$69.3 billion, close to half of the earlier peak.
Another CSOP ETF tied to South Korean chip stocks also posted a sharp decline. The CSOP 2x Long Samsung Electronics ETF fell more than 20% on the day and is down 63.33% from its June 3 record high.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
