Direxion Daily South Korea Bear 3X ETF (KORZ) - NYSEARCA
KORZ is defunct since September 23, 2014. Delisted due to lack of investor interest
  • Jan. 2, 2014, 10:40 AM
    • The Korean won's strong performance over the last six months is leading a growing number of analysts to worry Samsung's (SSNLF, SSNGY) Q4 results will miss estimates.
    • The company's chip business is especially vulnerable to forex swings, since it relies on dollars for order settlement. BNP Paribas estimates every 1% change in the won/dollar exchange rate hurts the op. profit of Samsung's chip division by 4%.
    • Citing exchange rates and (to a lesser extent) margin pressure for Samsung's OLED display business, IBK Investment is now expecting the electronics/display/chip giant to post a Q4 op. profit of KWT9.5T ($9.04B), below a KWT10.3T Thomson Reuters consensus.
    • Korean automakers Hyundai (HYMLF -5.1%) and Kia (KIMTF -6.1%) also fell hard in Seoul overnight. South Korea's benchmark KOSPI index fell 2.2%.
    • Korean ETFs: EWY, FKO, KORU, KORZ, DXKW
    | Jan. 2, 2014, 10:40 AM | 1 Comment
  • Sep. 16, 2013, 7:14 AM
    | Sep. 16, 2013, 7:14 AM
KORZ Description
The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the MSCI Korea 25-50 Index. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange traded funds.
See more details on sponsor's website
Country: Korea
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