"한국 개미들 당하는 거 보고도?" '레버리지 도입' 일본 증시 향한 '섬뜩 경고' (자막뉴스) / SBS

As U.S. asset management firms actively push to list leveraged ETFs based on Japanese companies, warnings about extreme stock price volatility are mounting. According to Bloomberg, major U.S. asset managers, including Corgi Strategies and Granite Shares, have applied for listing reviews for at least nine products, including ETFs that either double or inversely track the daily returns of the stock price and American Depositary Receipts (ADRs) of the Japanese memory semiconductor company Kioxia. If approved, Kioxia will become the first Japanese company to serve as the underlying asset for a leveraged ETF. Furthermore, other firms such as Turtle Capital and Direxion are also successively considering launching leveraged products based on assets such as SoftBank Group, Nintendo, Toyota Motor Corporation, and Tokyo Electron. However, concerns in the global financial market far outweigh expectations. This is because leveraged ETFs undergo large-scale position adjustments—known as "rebalancing"—around the market close each day to meet daily target returns; if investment funds flock to this process, it can exacerbate stock price distortions. In particular, foreign media outlets have cited the side effects recently observed in the South Korean stock market as a prime example of this warning. In an interview with Bloomberg, Andrew Jackson, Head of Japan Equity Strategy at Ortus Advisors, explained, "As seen in South Korea, leveraged ETFs distort normal market mechanisms and significantly amplify volatility." Consequently, he pointed out that "speculative overheating concentrated on AI-related stocks is amplified, undermining the market's normal price discovery function and blocking access for long-term investors." However, Bloomberg also added a forecast that, provided the trading volume of the underlying assets is sufficient and the fund size does not expand excessively, the resilience of the Japanese stock market could control the volatility resulting from rebalancing to some extent. (Reporting: Lee Hyun-young, Video Editing: Choi Kang-san, Design: Lee Su-min, Production: Digital News Department) #SBSNews #News #Realtime #Japan #ETF #Leverage #ADR #Semiconductor #Kioxia #Korea #Hynix Copyright Ⓒ SBS. All rights reserved. Unauthorized reproduction, redistribution, and use for AI learning are prohibited.