Politics
Korean Investors Suffer $1.7 Billion Losses From Leveraged ETFs
Key Points
Korean Investors Suffer $1.7 Billion Losses From Leveraged ETFs Retail investors are estimated to have lost 2.3 trillion won ($1.7 billion) from leveraged exchange-traded products tracking South Korea’s two chipmaking giants in just months, according to a lawmaker’s office, in the first revelation of the magnitude of risks from such bets. Clients of 10 Korean brokerages incurred the losses from single-stock ETFs and notes tied to Samsung Electronics Co. and SK Hynix Inc. between May 27 and...
Korean Investors Suffer $1.7 Billion Losses From Leveraged ETFs
Retail investors are estimated to have lost 2.3 trillion won ($1.7 billion) from leveraged exchange-traded products tracking South Korea’s two chipmaking giants in just months, according to a lawmaker’s office, in the first revelation of the magnitude of risks from such bets.
Clients of 10 Korean brokerages incurred the losses from single-stock ETFs and notes tied to Samsung Electronics Co. and SK Hynix Inc. between May 27 and Aug. 14, according to the office of Choi Eun-seok, a lawmaker from the opposition People Power Party.