Hanwha Ocean 20% plunge; Samsung Electronics and SK hynix single-stock leveraged ETFs 13% decline

7On the day, Hanwha Ocean fell % in the domestic stock market after news that it had failed to win a Canadian submarine contract, while single-stock leveraged ETFs for Samsung Electronics and SK hynix closed down %, sharply weakening investor sentiment.20%13%

The single-stock leveraged ETF plunged as much as % intraday before ending the session down %. The fund manager calculated that total net assets had declined by % from their peak.20%13%15%

Of the newly listed products, 14 products 13 closed below their listing prices. Volatility in leveraged products was highlighted among market participants.

The shipbuilding sector was also hit. Hanwha Ocean plunged after a contract was not secured, while major shipbuilders, including HD Hyundai Heavy Industries, 5showed weakness in the % range.

Regarding Hanwha Ocean, some securities firms were reportedly said to have recommended buying the stock during a correction. Attention is focused on whether the company will make any additional disclosures.

In contrast, Samsung SDS recorded gains of % on expectations for its AI business. The successive upward revisions to its target price by securities firms were cited as a factor behind the rise in its share price.6The stock recorded a % gain.

Overall, the day saw a sharp drop in leveraged products and the failure to secure shipbuilding orders intensify downward pressure on the stock market. Some AI-related stocks maintained their strength.