Memory chip concept stocks, which are core components of the Hong Kong stock market, have experienced a collective downturn. Notably, the Double Leveraged Samsung Electronics ETF, managed by Southern Asset Management, has seen a dramatic plunge of nearly 18%. Other significant players, such as Montage Technology, the Southern East Asia SK Hynix Daily Leveraged (2x) Product, and GigaDevice Semiconductor, have also suffered declines exceeding 6%.
On the news front, the South Korean stock market has continued its downward trajectory, with the KOSPI index at one point plummeting by 3.7% to reach 6,656 points. In this context, Samsung Electronics has witnessed a drop of over 9%, while SK Hynix has seen its shares fall by more than 3%.