Leverage concentration and high proportion of retail investors: The "amplifier mechanism" in the Korean semiconductor market attracts attention According to BlockBeats, on July 6th, a comparison between US stocks and South Korean technology stocks revealed a clear "leveraged ETF dominated" structure among Korean semiconductor leaders such as SK Hynix and Samsung Electronics. The total asset size of related single stock ETFs and related products has exceeded the daily average trading volume of the underlying stocks by several times, while US technology stocks such as Micron Technology, Tesla, and Nvidia still rely on spot trading, with ETF sizes far below the daily average trading volume. Data shows (as of June 29, 2026): The total assets of SK Hynix's single stock ETF and related products reached $19.04 billion, while its daily turnover was only $4.47 billion; Samsung Electronics' corresponding data is 12.43 billion US dollars and 4.49 billion US dollars. In contrast, Micron Technology ETF has a scale of 9.88 billion US dollars and an average daily turnover of 27.47 billion US dollars; Tesla is at $5.95 billion to $23.56 billion; Nvidia's stock price was $5.57 billion compared to $28.75 billion - a structure opposite to that of South Korean stocks. Due to the lack of individual stock option tools in the South Korean market and the high proportion of retail investors, leveraged funds are highly concentrated in ETF products, resulting in stock prices being more driven by passive portfolio adjustments. Once the market falls, ETFs are forced to sell, but the market's ability to absorb them is insufficient, which can easily amplify price fluctuations and form the unique "amplifier mechanism" of the Korean semiconductor market. [Original link]