Why SK hynix ETF jumped 50% on Black Monday

Three SK hynix single-stock leveraged exchange-traded funds were placed on the Korea Exchange's investment-caution list Monday, after one of them surged as much as 50 percent despite an 8 percent drop in the underlying stock, exposing a severe pricing distortion during a period of market turmoil.

The Korea Exchange said late Monday that it had designated the ACE SK Hynix Leveraged ETF, managed by Korea Investment Management, along with the 1Q SK Hynix Leveraged ETF from Hana Asset Management and ...