On August 24, Direxion Daily MSCI South Korea Bull 3x Shares declined 8.52% in regular trading, trading at $18.06/share, with turnover of $169 million.
On the news front, Korea's KOSPI index closed down 3.12% at 6,696.96 points, dragging down the triple-leveraged ETF in proportion. The selloff was primarily triggered by Samsung Electronics, whose stock plunged as much as 9% intraday after the company's record shareholder return plan fell short of market expectations.
Samsung announced a shareholder return plan of 90 to 110 trillion KRW (approximately $79 billion), including a 30 trillion KRW cash dividend in Q3. While this represents a historic record — roughly five times the previous high of 20.3 trillion KRW — market participants had anticipated returns as high as 200 trillion KRW. Analysts noted the absence of a stock buyback-and-cancellation plan and the unchanged 50% free cash flow payout ratio as key disappointments. Morgan Stanley highlighted that investors need clarity on how Samsung will allocate the remaining 60-80 trillion KRW, with details expected in January.
As a triple-leveraged product tracking the MSCI South Korea Index, KORU amplified the KOSPI's decline, with its loss broadly consistent with the expected 3x relationship to the underlying index movement.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)