Korean stocks opened higher then slid lower, with SK Hynix’s decline widening to 4.5%.

58 minutes ago

Per Bitget market data, South Korean stocks opened higher then moved lower, with the KOSPI index accelerating its slump to a 1% daily drop after earlier rising over 3%. SK Hynix’s decline widened to 4.5%, while Samsung Electronics’ gain narrowed to under 1%.

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South Korea's KOSPI index fell below the 5,700-point mark, hitting its lowest level since April 7, while SK Hynix is down roughly 53% from its June peak.

According to Bitget market data, South Korea’s KOSPI index extended its decline, falling below the 5,700-point threshold to hit a new low since April 7, with an intraday drop of more than 5%. SK Hynix slid over 9%, pushing its total market capitalization below 1,000 trillion won — a roughly 53% fall from its June peak. Samsung Electronics declined 4.1%.

3 minutes ago

Southern Asset Management’s 2x leveraged long SK Hynix product has plunged nearly 85% from its peak, while its 2x leveraged long Samsung product has fallen nearly 78%.

According to Bitget market data, Hong Kong-listed CSOP Leveraged 2x Long SK Hynix ETF (07709) fell 17.6% intraday to HK$31.2, down nearly 85% from its peak of HK$193.65. CSOP Leveraged 2x Long Samsung Electronics ETF (07747) dropped 9.6% intraday to HK$55.4, down nearly 78% from its peak of HK$243.1.

3 minutes ago

South Korea's KOSPI index fell below the 5,800 mark, hitting its lowest level since April, while SK Hynix dropped more than 8.3%.

According to Bitget market data, South Korea’s KOSPI index fell below 5800 points, hitting a new low since April, with an intraday drop of 4.5%. SK Hynix slid more than 8.3%, while Samsung Electronics declined 3.8%.

3 minutes ago

Ark Invest increased its SpaceX holdings by $12.2 million and cut its Robinhood holdings by $4 million.

Cathie Wood’s Ark Invest sold Block Inc (XYZ) shares worth $2.3 million, Bullish (BLSH) shares worth $1.6 million, and Robinhood (HOOD) shares worth $4 million yesterday. Additionally, it purchased SpaceX (SPCX) shares worth $12.2 million and BitMine (BMNR) shares valued at approximately $289,000.

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Entities affiliated with a16z may have resumed building positions in HYPE, withdrawing approximately $7.335 million worth of HYPE from centralized exchanges (CEXs) over the past 8 hours.

According to on-chain analyst Ai Yi (@ai_9684xtpa), after allegedly selling HYPE multiple times, entities associated with a16z may have resumed accumulating positions. Over the past 8 hours, the relevant addresses have withdrawn a total of 132,056.65 HYPE from multiple exchanges, worth approximately $7.335 million, at an average withdrawal price of around $55.54. Data shows that since July 15, the same addresses have transferred a total of 398,000 HYPE to exchanges, equivalent to about $24.89 million.

3 minutes ago

Korea Exchange triggered the KOSPI index sidecar mechanism, suspending program trading for five minutes.

South Korea Exchange (KRX) triggered the KOSPI index’s sidecar mechanism, suspending program trading for 5 minutes. The sidecar mechanism is mainly used to address sharp short-term volatility, restricting only program trading while manual trading remains operational. Different from the circuit breaker mechanism, the sidecar does not halt the entire market; it is more regarded as a "speed bump" during market fluctuations. By contrast, circuit breakers are typically applied in extreme market conditions, and once triggered, they suspend all market trading to prevent panic-driven volatility from further expanding.

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