SK Hynix sinks 15% in Seoul as post-Nasdaq rally reverses
What's new: The sell-off helped drive the Kospi down 9% and triggered a 20-minute trading halt in South Korea.
SK Hynix shares in Seoul fell more than 15% on Monday, their biggest one-day drop in nearly 20 years, as investors reversed part of the stock’s sharp gains after the chipmaker’s Nasdaq debut last week. Its US-listed ADRs fell 8.3% in premarket trading after rising 12.8% in their first session on Friday. The slide, along with losses in Samsung Electronics, pushed South Korea’s Kospi down 9% and set off a 20-minute trading halt. Micron Technology, SanDisk and Western Digital also fell before the bell in the US. Analysts pointed to worries that heavy chip investment could swell supply in 2027 and 2028, even as SK Hynix has argued the memory market is headed for a severe shortage in 2027.