--- title: "\"Stocks in Motion\" CSOP Double Long Hynix rapidly drops 20%, as South Korea raises interest rates and the government plans to buy USD raised from fundraising to stabilize the won" type: "News" locale: "en" url: "https://longbridge.com/en/news/292835409.md" description: "The Bank of Korea raised interest rates by 25 basis points to 2.75%, the first increase in nearly three and a half years. As a result, and due to rumors of the government planning to purchase US dollars to stabilize the Korean won, the CSOP HS TECH ETF fell sharply by over 20%. At the same time, SK Hynix's stock price plummeted, and the KOSPI index also saw a significant decline. In Hong Kong stocks, the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng TECH Index all recorded gains" datetime: "2026-07-16T01:33:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292835409.md) - [en](https://longbridge.com/en/news/292835409.md) - [zh-HK](https://longbridge.com/zh-HK/news/292835409.md) generator: "portal-rs" --- # "Stocks in Motion" CSOP Double Long Hynix rapidly drops 20%, as South Korea raises interest rates and the government plans to buy USD raised from fundraising to stabilize the won "Economic Information Agency, December 16" Southbound Double Long SK Hynix ETF (07709) is currently down 21%, trading at HKD 56.7, with a turnover of approximately 5.48 million shares, involving HKD 310 million. The Bank of Korea announced this morning that it has raised the policy interest rate from 2.50% to 2.75%, an increase of 25 basis points, marking the first rate hike in nearly three and a half years. The hawkish signals from the Bank of Korea have been strengthening over the past few months. Governor Rhee Chang-yong has repeatedly emphasized since he first chaired the policy meeting in May that inflation, economic growth, exchange rate, and financial stability risks all point towards the direction of interest rate hikes. As South Korea raises interest rates, South Korean media reports that the foreign exchange management department is discussing the purchase of USD funds related to the issuance of SK Hynix ADRs through the Foreign Exchange Stabilization Fund to prevent fluctuations of the USD against the KRW. Reports indicate that since SK Hynix plans to use a large portion of the funds raised from the ADR issuance for domestic investment, a significant amount of USD is expected to flow into the domestic foreign exchange market. Currently, SK Hynix's Korean stock is down over 11%, and the KOSPI has fallen over 6.5%. At present, the Hang Seng Index is at 24,992, up 311 points or 1.3%, with a main board turnover of nearly HKD 11 billion. The China Enterprises Index is at 8,307, up 123 points or 1.5%. The Hang Seng TECH Index is at 4,796, up 56 points or 1.2%. | Stock (Code) | Current Price (HKD) | Change (%) | | ------------------------------- | ------------------- | ----------- | | XL Double Long SK Hynix (07709) | 56.70 HKD | Down 21.01% | | XL Double Long Samsung (07747) | 86.88 HKD | Down 15.9% | | Southbound KOSPI (03121) | 6.05 HKD | Down 6.20% | Performance of related stocks in the same sector (hc) ### Related Stocks - [STECH.HK](https://longbridge.com/en/quote/STECH.HK.md) - [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [HSCEI.HK](https://longbridge.com/en/quote/HSCEI.HK.md) - [03115.HK](https://longbridge.com/en/quote/03115.HK.md) - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) - [03067.HK](https://longbridge.com/en/quote/03067.HK.md) - [EWY.US](https://longbridge.com/en/quote/EWY.US.md) - [03032.HK](https://longbridge.com/en/quote/03032.HK.md) - [03033.HK](https://longbridge.com/en/quote/03033.HK.md) - [03121.HK](https://longbridge.com/en/quote/03121.HK.md) - [07226.HK](https://longbridge.com/en/quote/07226.HK.md) - [07552.HK](https://longbridge.com/en/quote/07552.HK.md) - [07266.HK](https://longbridge.com/en/quote/07266.HK.md) - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [07200.HK](https://longbridge.com/en/quote/07200.HK.md) - [07300.HK](https://longbridge.com/en/quote/07300.HK.md) - [07500.HK](https://longbridge.com/en/quote/07500.HK.md) - [02828.HK](https://longbridge.com/en/quote/02828.HK.md) ## Related News & Research - [SK Hynix Workers Reject Wage Deal, Triggering Fresh Negotiations: Report](https://longbridge.com/en/news/296882932.md) - [Samsung unveils plan to return up to US$79 billion to shareholders](https://longbridge.com/en/news/296615008.md) - [BOK delivers back-to-back rate hikes as price pressures persist](https://longbridge.com/en/news/297104548.md) - [S Korea Central Bank Raises Rates by 25 bps as Expected; Won Gains Nearly 0.5%](https://longbridge.com/en/news/297109352.md) - [South Korea central bank delivers back-to-back rate hike, as expected](https://longbridge.com/en/news/297104448.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**