🔴 7709.HK is trading 14.7% down today as SK hynix plunges on DRAM peak fears and Chinese competition

7709.HK is trading 14.7% down today as SK hynix and broader memory-chip stocks plunge following a severe semiconductor selloff in Asia.

• Reports of aggressive Chinese competition in advanced chips and fears that DRAM prices are peaking have hit SK hynix hard, with the ETF’s leverage amplifying the downward move.
• Selling pressure is exacerbated by a broader market rotation out of AI-related semiconductors into safer sectors ahead of key Federal Reserve and big-tech events.