🔴 SK Hynix 2x Leveraged ETF (7709.HK) is trading 7.17% down as Kioxia warned memory prices had risen sufficiently

7709.HK is trading at HK$40.94, down 7.17%, as memory-chip stocks sold off after Kioxia warned memory prices had risen sufficiently.

• The warning reduced expectations for further rapid price increases, prompting profit-taking across SK Hynix, Micron, and Western Digital.
• Higher-than-expected U.S. PPI and elevated rate-hike concerns added broader pressure to risk-sensitive technology shares.