Due to the leveraged ETF limits in South Korea, stocks related to memory chips fell; SK Hynix’s share price dropped 14%.

According to a July 16 announcement by the Financial Services Commission of South Korea, memory chip stocks plunged sharply due to new regulatory restrictions on leverage ETFs targeting a single stock.
The Philadelphia Semiconductor Index fell more than 4%, while the memory chip index slid 7%.
Individual stocks saw even larger declines: SK Hynix fell 14%, SanDisk fell 12%, Western Digital fell 9%, and Seagate Technology fell more than 8%.
The FSC raised the minimum margin requirement from 10 million to 30 million won, limiting it to cash deposits only; it also set rules that leveraged purchases of a single stock are capped at 20 shares per order and banned the launch of new single-stock leveraged products.
JPMorgan analyst Nikolaos Panigirtzoglou said that since the June peak, the assets under management of leveraged memory chip ETFs have fallen by 34%, while all leveraged equity ETFs have declined by 13%.
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