On September 15, Direxion Daily MSCI South Korea Bull 3x Shares rose 8.02% overnight, trading at $20.04/share, with turnover of $32.50 million.
On the news front, Japanese and Korean equity markets staged a sharp reversal after opening lower, following the prior session's steep declines. The KOSPI index recovered toward the 6,700-point level, with storage chip giants SK Hynix and Samsung Electronics turning positive, gaining 0.24% and 0.3% respectively. In Japan, SoftBank Group rebounded over 5% and Kioxia surged over 3%. The prior trading day saw the ETF plunge more than 15% intraday amid multiple headwinds including escalating Middle East tensions pushing oil prices higher and a roughly 90% market-implied probability of a Fed rate hike in September. The current rebound is driven by technical recovery dynamics, with the fund's triple-leverage structure significantly amplifying the magnitude of the bounce.
The fund invests at least 80% of its net assets in financial instruments that provide daily leveraged exposure to the MSCI South Korea Index, which measures the performance of the large- and mid-cap segments of the South Korean equity market, covering approximately 85% of the free float-adjusted market capitalization of South Korean issuers. It is non-diversified.
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