Samjeonnix 2leveraged ETF listed, daily 10% fluctuation prompts questions even in the National Assembly
Samsung Electronics and SK hynix 2leveraged exchange-traded fund (ETF) was 5 month 27 day, some stocks saw daily swings of up to 10%. People Power Party lawmaker Park Soo-young on 7 month 9 day called for a parliamentary investigation, citing stock-market volatility caused by the ETF's launch.
Since the Samsung Electronics and SK hynix 2leveraged exchange-traded fund (ETF) was listed on 5 month 27 day, daily swings in some stocks have reached 10%, increasing KOSPI volatility.
The product was reportedly followed by a surge of interest from individual investors immediately after its listing, amplifying short-term price movements in market-leading stocks.
Some market participants called the product “Samjeonnix” and pointed to its trading volatility.
People Power Party lawmaker Park Soo-young 7 month 9called for a parliamentary investigation, citing stock-market volatility following the launch of the ETF.
Park called for an investigation into the launch process and accountability, saying the product was launched four months after a meeting between Representative Lee Jae-myung and the chief executives of securities firms.
In remarks made the same day, Park criticized the launch process and its market impact, using the expression “KOSPI casino.”
There is still no publicly available information on whether financial authorities have officially begun an investigation or on any additional measures.
The parties mentioned in connection with this matter include Samsung Electronics, SK hynix, and the entity that operated the leveraged ETF.
Sources: 매일경제 증권
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