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The leverage concentration of Korean chip stocks is extremely high, with SK Hynix's leveraged ETF asset size being more than four times its average daily trading volume.
BlockBeats News, July 5 - The Kobeissi Letter stated that the leverage level of South Korean chip stocks has spiraled out of control. The total asset size of single-stock leveraged and inverse ETFs tracking SK Hynix is currently about $19 billion, which is more than four times the stock's average daily trading volume of approximately $4.5 billion this year.
Meanwhile, the asset size of Samsung-related leveraged ETFs is approximately $12.4 billion, which is 176% higher than its average daily trading volume of about $4.5 billion. The asset size of the 2x Long SK Hynix ETF listed in Hong Kong is about $13 billion, roughly twice the average daily stock trading volume of SK Hynix, making it the largest gap among major stocks tracked by leveraged ETFs.
In comparison, the asset size of Micron (MU)-related leveraged ETFs is about $9.9 billion, lower than its average daily trading volume of approximately $27.5 billion; the asset sizes of leveraged ETFs for Tesla (TSLA) and Nvidia (NVDA) are about $6 billion and $5.6 billion, respectively, also far below their average daily trading volumes of approximately $23.6 billion and $28.8 billion. The concentration of leverage in South Korean chip stocks has become extremely high.