South Korea-linked leveraged products fell sharply on July 29 as Korean equities weakened. By the Hong Kong midday close, CSOP 2x Long Hynix (07709.HK) had dropped 25.72% on the day, taking its decline since the start of July to 81.05%. Data showed the product’s latest assets under management at HK$31.92 billion, down 70% from its peak size. Another leveraged product under CSOP tied to a Korean chip stock also posted a steep loss. CSOP 2x Long Samsung Electronics (07747.HK) was down 16.56% by midday, with its loss for the month reaching 69.55%. The moves came alongside weakness in the South Korean stock market, according to BlockBeats.
South Korea’s stock market weakened on July 29, dragging down leveraged products tied to Korean chip names.
By the Hong Kong midday close, CSOP 2x Long Hynix (07709.HK) had fallen 25.72% on the day. Its decline since the start of July reached 81.05%, according to BlockBeats. Data showed the product’s latest assets under management at HK$31.92 billion, down 70% from its peak.
Another leveraged product from CSOP linked to a South Korean chip stock also posted a sharp drop. By the Hong Kong midday close, CSOP 2x Long Samsung Electronics (07747.HK) was down 16.56% on the day, while its loss for the month stood at 69.55%.
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.
