Southern Eastspring 7709 ETF dominated SK Hynix's trading volume, even partially influencing its pricing power, which is actually quite significant. By the end of June, this product directly became the largest ETP in Hong Kong/Asia, with trading volume far exceeding the underlying stock. The 2x ETF product directly impacts volatility and stock characteristics. When the price rises, it acts like a big cheerleader. Due to the product mechanism, in order to maintain 2x leverage, it needs to continuously roll profits. When the price drops, it turns into a 24K pure rookie, and to maintain 2x leverage, it has to keep cutting losses immediately. In crypto terms, when it drops, it’s like a live target for liquidation prices. Manipulators can exploit liquidity to drive the 2x ETF to zero. When it rises, the rolling profits mechanism becomes the best booster. Right now, SK Hynix is essentially the plaything of 7709, acting as both the meat grinder and the accelerator for its stock price cycle (accelerating to the level of a fan-like cycle). Don’t be like rookies shouting all day about the end of the memory cycle. If 7709 goes to zero or consolidates once, the upward spiral will start again. Some stocks require precise timing because they’re already part of the game.