A 26-year-old male trader at Hong Kong Chifu Management Services allegedly used HK$50 million in company funds without authorization as margin to buy the CSOP Southbound 2x Long SK Hynix ETF through financing leverage. According to Odaily, the leveraged position was then reported to have an unrealized loss of about HK$150 million.
The ETF rose to a record HK$193.65 at the end of June before declining with the semiconductor sector. As of July 20, it had fallen more than 72% to HK$52.58. Police have arrested the trader on suspicion of theft, and the final loss will still change with price movements because the position has not been closed.
Hong Kong Trader Arrested After Unauthorized Use of HK$50 Million to Buy Leverage ETF
2026-07-27 05:13:41
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