🔴 SK Hynix 2x Leveraged ETF (7709.HK) is trading 12.47% down today as memory-chip shares sell off

7709.HK is trading at HK$32.30 (-12.47%) after a sharp selloff across memory and semiconductor shares.

• The memory-chip sector was reported down 8.33%, amid rising Treasury yields, higher oil prices, and renewed U.S.-Iran tensions pressuring high-growth technology valuations.
• Investors also took profits after 7709.HK’s substantial gains from August 11 through August 14; its 2x daily leverage magnified the underlying sector weakness.