On July 17, the Hong Kong stock market saw the Southbound Double Long Hynix ETF drop by 20.68%, closing at HKD 44.8, marking a new low since April 24. This represents a 76% decline from its historical high of HKD 193.65 reached on June 25, resulting in a staggering drop of 76% in just 15 trading days. The underlying stock of SK Hynix in the South Korean market has also retreated 38% from its previous high. At a forum hosted by the Korean Chamber of Commerce today, SK Group Chairman Choi Tae-won stated, "The demand for memory chips is growing exponentially, which is why the stock prices of SK Hynix and Samsung Electronics have surged rapidly since last year." When asked about the recent decline in SK Hynix's stock price, he mentioned that stock prices typically rise with market expectations and then correct after an excessive rise. "I believe that the demand for memory chips will continue to exist, so over time, the stock price trend will show an upward trajectory."
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Double Long Hynix ETF Drops 76% from Previous Highs
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