South Korea is launching its first single-stock leveraged ETFs tied to chipmakers Samsung Electronics and SK Hynix. The products aim to double daily stock movements and target retail investors.
The new ETFs will track the performance of the two major chip companies, which have benefited from the global AI boom. They are designed to deliver twice the daily returns of the underlying stocks, increasing both potential gains and losses for holders.
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Seoul stocks opened higher Thursday on sustained demand for Artificial Intelligence, with the benchmark KOSPI rising 207.25 points, or 3.05 percent, to 7,004.95 as of 9:35 a.m.
Exchange-traded funds tied to the KOSPI index and South Korean chipmakers are scheduled for launches overseas later this year.
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US markets closed higher with the S&P 500 near record levels. The gains followed SK Hynix's strong Nasdaq debut and renewed momentum in AI-linked chip stocks. Investors stayed cautious ahead of earnings season and inflation data.
South Korean stocks closed at a fresh record high above 8,800 on Tuesday, led by gains at Samsung Electronics amid optimism over Artificial Intelligence.
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Seoul shares opened higher on Monday, driven by gains in technology companies ahead of second-quarter earnings results.
The KOSPI fell 5.81 percent on June 26 as investors took profits following recent AI-driven gains, closing at 8,411.21.
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Seoul shares plummeted 5.4 percent on July 8 as technology stocks extended losses amid investor concerns over the Artificial Intelligence trade.