SK Hynix said on Aug. 19 that it plans a 40 trillion won share buyback and cancellation, and pledged to return more than 50% of free cash flow to shareholders between 2025 and 2027. The announcement pushed the chipmaker’s stock up about 6% and drove the Hong Kong-listed CSOP 2x Long SK Hynix product, 07709.HK, up more than 20% on the day.
The article says the exchange-traded product, one of the most watched and best-performing equity ETPs over the past year, was added to Binance a week earlier. Binance also listed products linked to Kuaishou, Meituan and a 2x long Samsung Electronics vehicle at the same time, expanding its lineup of derivatives tied to core Asian assets.
Since going live on Binance, the product tied to 07709.HK has posted a peak gain of 59%, making it one of the strongest-performing stock perpetual contracts launched on the platform over the same period. As of 16:00 on Aug. 19, 24-hour trading volume had exceeded $24.6 million, with liquidity and user attention still rising.
How 07709 moved from Hong Kong markets into crypto trading
The report describes 07709.HK as one of the signature leveraged products of the current AI-driven equity cycle. CSOP Asset Management launched the Daily Leveraged (2x) Product on SK Hynix on the Hong Kong Stock Exchange on Oct. 16, 2025, under ticker 07709, with an issue price of HK$7.8.
The product does not directly hold SK Hynix shares. Instead, it uses synthetic replication through total return swaps to target twice the stock’s single-day move, resetting leverage to 2x after rebalancing at the close of each trading session.
At the time, the AI wave was driving a surge in demand for high-bandwidth memory, or HBM. The article says SK Hynix, as the leading name in that segment, was already in an upward share-price trend, and 07709 quickly attracted retail and speculative capital because of its clear leverage profile and easy access through the Hong Kong market.
According to the article, the product’s assets under management climbed from HK$23 million near launch to HK$132 billion at its peak on June 22, 2026. That made it the largest listed fund in Hong Kong and the world’s largest single-stock leveraged ETP by size. Its net asset value rose from HK$7.8 to as high as HK$193.65, marking a peak annual gain of more than 1,061%.
In late June 2026, SK Hynix pulled back from its highs as South Korean equities corrected and semiconductor names saw profit-taking. Even so, the article says 07709 remained one of the most closely followed single-stock leveraged products globally. On July 31, when South Korean equities surged 17% in a day, 07709 at one point jumped 306% intraday, with turnover above HK$9.2 billion.
Binance’s 2x long SK Hynix perpetual contract opened a new channel for the product. Unlike the Hong Kong-listed spot ETP, the Binance contract uses USDT as margin, offers leverage of up to 20x, runs on a 24/7 basis, and uses a funding-rate mechanism settled every eight hours to keep pricing aligned with the underlying asset.
For crypto traders, the structure removes the need for an offshore brokerage account or currency conversion. The article says that lowers the barrier to trading a major global semiconductor name and gives users a way to react during the hours when Korean and Hong Kong equity markets are closed. Since launch, the contract has risen as much as 58%, including a peak one-day gain of 21% on Aug. 19, while volume reached $24.6 million and liquidity and open interest kept building.
Why SK Hynix became the key underlying asset
The report ties 07709’s popularity to SK Hynix’s fundamentals in the AI cycle. It argues that rapid growth in large AI models and AI servers has turned memory chips from a supporting component in consumer electronics into a critical part of the computing stack. From Nvidia AI GPUs to AI factories around the world, high-speed data transfer depends heavily on HBM, and SK Hynix sits at the center of that market.
Public data cited in the article puts SK Hynix’s share of the global HBM market at 64%. It also says the company is the only manufacturer currently able to mass-produce both HBM3E and HBM4 on a stable basis, with deep commercial ties to Nvidia and other leading AI chip companies. In June 2025, Nvidia and SK Hynix announced a multi-year technology partnership to advance memory technology for AI factories, covering product lines including the Vera Rubin supercomputer and the Jetson Thor robotics platform. The article adds that strong demand from Nvidia, Google and others has already sold out SK Hynix’s 2026 HBM capacity.
The company’s financial growth has also been sharp. In the first quarter of 2026, SK Hynix posted consolidated revenue of 52.58 trillion won, up 198.1% year over year, and net profit of 40.35 trillion won, nearly four times higher than a year earlier. On June 22, 2026, its market value surpassed Samsung Electronics for the first time, ending Samsung’s 27-year run as the largest company in South Korea’s stock market by market capitalization and making SK Hynix the country’s most valuable listed firm. The article also describes it as Asia’s third trillion-dollar technology company by market value.
After the close on Aug. 19, SK Hynix announced the 40 trillion won buyback and cancellation plan. The article says the scale set a record for a listed South Korean company, and that the stock rose more than 6% in premarket trading.
The broader memory cycle is also moving higher. Data from TrendForce cited in the report shows conventional DRAM contract prices in the second quarter of 2026 rose 58% to 63% from the prior quarter, while NAND Flash contract prices increased 70% to 75%. In that setup, the article says SK Hynix has become a core target for global capital, and leveraged products tied to the stock have turned into a tool for investors seeking exposure to the AI memory theme.
Binance expands further into Asian equity derivatives
The article says Binance’s rollout of perpetual contracts linked to Kuaishou, Meituan, 2x long SK Hynix and 2x long Samsung Electronics is not an isolated batch of listings. It presents the move as part of the exchange’s broader TradFi derivatives strategy.
Over the past two years, real-world assets, or RWAs, have remained a major theme in crypto. The report says global crypto RWA derivatives trading volume stood at $230 million in January 2025 and then surged to $347.17 billion by May 2026. Binance’s RWA product line already spans commodities, U.S. equities, equity indexes and bonds, and the latest push adds more Asian stocks to that mix.
The article gives several reasons for the focus on Asia. One is regulation. It says the U.S. market applies tight oversight to synthetic stock and stock-token products, and Binance suspended its tokenized stock business in 2021 because of regulatory pressure. By contrast, the article describes Hong Kong and Singapore as more open to financial technology, while South Korea already has a mature market for leveraged single-stock ETFs.
Another factor is user demand. The report says investors in Asia tend to show stronger appetite for risk and leverage, with South Korea ranking high globally in retail stock participation and leveraged-product penetration. Hong Kong’s market also has a long history with leveraged and inverse products. Stock perpetuals on crypto platforms, the article says, answer a series of pain points at once: no offshore brokerage account, no quota approval, no currency conversion, one-click trading with USDT, higher leverage, and 24/7 market access.
A third reason is the asset base itself. The article points to South Korean semiconductor leaders such as SK Hynix and Samsung, along with Chinese technology and consumer names including Tencent, Kuaishou, Meituan and Zhipu. Those assets, it says, sit at the center of global technology and consumer growth and carry the volatility and investor attention that suit derivatives trading.
The report also says a dual-track pricing structure is taking shape as crypto platforms develop stock derivatives. Traditional exchanges handle spot pricing during daytime trading hours, while crypto venues absorb demand and conduct price discovery when those markets are closed. In periods of major macro or industry news, the article says crypto markets can react first and shape the direction of the next traditional-market open.
It closes by casting 07709’s rise across both the stock market and Binance as more than a single-product story. In the article’s framing, the move from a Hong Kong-listed leveraged ETP to a crypto-native star perpetual contract reflects the heat around AI memory assets, the leverage demand of Asian investors and a deeper convergence between crypto and traditional finance.