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Inverse exchange-traded funds surged in unison Tuesday after the Kospi collapsed more than 10%, with single-stock inverse products tied to Samsung Electronics and SK Hynix claiming the top two spots among all domestically listed ETF gainers that day.

According to Korea Exchange, the Kospi closed at 6,023.66, down 732.09 points, or 10.84%, from the previous session.

Samsung Electronics fell 13.39% to close at 220,000 won, while SK Hynix dropped 14.65% to finish at 1.55 million won.

The sharp declines in the two semiconductor heavyweights sent their single-stock inverse products soaring. The SOL SK Hynix Futures Single-Stock Inverse 2X jumped 29.10% to close at 14,530 won, topping all domestically listed ETFs in gains for the day.

The product's trading volume reached 2.82 trillion won ($1.84 billion), equivalent to roughly 7.9% of the total Kospi trading volume of 35.64 trillion won recorded that day.

The PLUS Samsung Electronics Futures Single-Stock Inverse 2X also rose 26.86% to close at 21,160 won, ranking second among ETF gainers.

Double-inverse ETFs tracking twice the inverse of the KOSPI 200's daily return also surged more than 20%. The RISE 200 Futures Inverse 2X climbed 24.04% from the previous session to close at 129 won.

Other double-inverse products also posted sharp gains: TIGER 200 Futures Inverse 2X rose 23.36%, KIWOOM 200 Futures Inverse 2X gained 22.22%, KODEX 200 Futures Inverse 2X advanced 22.00% and PLUS 200 Futures Inverse 2X climbed 20.20%.

Retail investors, anticipating a market rebound, poured into leveraged ETFs. According to Koscom, individuals net purchased 420 billion won worth of the KODEX SK Hynix Single-Stock Leverage ETF, making it the top net-purchased ETF of the day.

Retail investors also heavily bought the KODEX Leverage (294.1 billion won), KODEX Kosdaq 150 Leverage (233.2 billion won) and TIGER SK Hynix Single-Stock Leverage (152.3 billion won).


moon@heraldcorp.com