The CSOP SK Hynix Daily (2x) Leveraged Product plunged 15% in early trading on Thursday, reflecting a sharp temporary drop in the underlying SK Hynix shares during South Korea's pre-market session.

The leveraged product’s decline was triggered by an extreme price move in SK Hynix on the Nextrade alternative trading platform. At 8 a.m. pre-market, just 11 shares of SK Hynix traded at a price roughly 30% below the previous close, instantly hitting the downside limit. The illiquidity of the pre-market continuous auction allowed a single small trade to set the reference price, causing a momentary collapse. Although SK Hynix’s price quickly recovered to a loss of only about 2% by the end of pre-market, the brief dislocation was enough to heavily impact leveraged products tracking the stock.

The incident highlights the risks of trading in thinly traded pre-market sessions, where a handful of shares can distort prices. In response to recent similar events, Nextrade announced it will introduce a static volatility interruption mechanism starting September 14 to prevent such extreme price swings from forming immediate transaction prices.