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The underlying stock is still plunging—did a two-times long ETF rally against the trend? A magic show 🫨🫨🫨
Korean stocks keep falling: SK hynix down more than 4%, and the South Korea two-times leveraged long ETF surged 14% against the trend
On July 20, the Korea 🇰🇷 KOSPI index closed on July 20 (Monday) down 304.33 points, a 4.46% decline, at 6,516.27. SK hynix fell 4.23%, and Samsung Electronics fell 4.31%.
🚨Notably, the South Korea two-times leveraged long Hynix ETF in Hong Kong surged 14% against the trend.
⚠Market analysts say this kind of phenomenon may be due to price misalignment caused by liquidity and market maker failures; in addition, leverage reset and rebalancing feedback could also be one of the reasons for the countertrend volatility.
⚠️ Risk warning: This “rebalancing crash + market maker failure” caused 14% surge comes with a very high after-hours high premium component. This means the ETF’s price has already severely overdrawn expectations for the underlying stock. Once trading opens in the next session in South Korea and the underlying stock’s rebound fails to meet expectations, or if market makers restore normal arbitrage, this ETF could face a huge selloff catch-up risk.