Saudi Arabia was attacked by Yemen's Houthi militants for two consecutive days over the weekend, pushing oil prices higher. On Monday, U.S. tech stocks weakened, with the Philadelphia Semiconductor Index down 2.7% and Micron (US.MU) falling nearly 4%. Asian markets followed lower in early trading, with Japanese stocks down over 2% and South Korean stocks plunging over 6%, temporarily triggering a halt in program trading.
SK Hynix is currently down about 8%, Samsung Electronics down over 6%. Korean ETFs listed in Hong Kong are broadly weak; Southern Leverage 2x Long Samsung (07747) opened 12% lower at HK$58.68; Southern KOSPI (03121) opened 5.3% lower at HK$5.96; A Southern Korea Call (03537) opened 5.1% lower at HK$8.485.
Currently, the Hang Seng Index stands at 24,172, down 99 points or 0.4%, with main board turnover of nearly HK$2.5 billion. The Hang Seng China Enterprises Index is at 8,136, down 32 points or 0.4%. The Hang Seng Tech Index is at 4,129, down 39 points or 1%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| XL2 Southern Hynix (07709) | 27.20 | Down 14.52% |
| XL2 Southern Samsung (07747) | 58.68 | Down 12.02% |
| Southern KOSPI (03121) | 5.96 | Down 5.32% |
| A Southern Korea Call (03537) | 8.485 | Down 5.14% |