▲ New York Stock Exchange
As the price of the "SOXL" exchange-traded fund (ETF) in the U.S. stock market plummeted by more than 10% in a single day, retail investors in South Korea who hold large amounts of the stock are estimated to have suffered 1 trillion won in losses.
According to the financial investment industry today (the 15th), the stock price of SOXL plummeted 13.35% from the previous day to close at $110.54 in the U.S. stock market on the 14th local time.
This marks the largest drop in a month since September 14 (-16.98%).
SOXL is a leveraged ETF that tracks the U.S. semiconductor index threefold, and the sharp drop followed a 4.30% decline in the Philadelphia Semiconductor Index on this day.
SOXL is one of the most widely held U.S. stocks among Korean investors.
According to SEIBRO, the securities information portal of the Korea Securities Depository, Korean investors held $5.67947 billion (7.6104 trillion won) worth of SOXL as of the 12th.
In terms of holding value, it ranks fourth after Tesla, Nvidia, and Alphabet.
With SOXL falling more than 13% on this day, $758.2 million (1.016 trillion won) of the holdings by Korean investors based on the 12th evaporated.
SK hynix American Depositary Receipts (ADRs) also fell 6.06% on the same day.
The closing price on this day was $147.55, falling below the initial public offering (IPO) price of $149 when it was listed last July.
As of the 12th, Korean investors held $577.09 million (773.3 billion won) in SK hynix ADRs.
Due to the drop on this day, it is estimated that they suffered a loss of $34.97 million (46.8 billion won) on this stock alone.
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