SK hynix breaks below the ₩1.2 million mark for the first time in six months, falling to ₩1.18 million [Stock Now]

[Financial News] SK hynix has fallen below ₩1.2 million for the first time in six months. Market wariness has intensified, particularly around AI-related stocks, and the end of the company’s share buyback and controversy over Solidigm’s dual listing are believed to have worsened investor sentiment.
According to the Korea Exchange, as of 10:16 a.m. on the 20th, SK hynix was trading at ₩1,189,000, down 6.89% from the previous trading day. The stock opened at ₩1,299,000, down 0.38%, before extending its losses.
It has been about six months since SK hynix last fell below ₩1.2 million, on April 21. At the time, it opened at ₩1,196,000, then climbed above ₩1.2 million during the session and closed at ₩1,224,000.
With AI-related stocks weakening that day, the impending end of SK hynix’s share buyback is seen as having contributed to the decline in its share price. The company had initially said it would continue buying back shares through the 19th of next month, but the purchases have proceeded faster than expected, and the market expects the buyback could end as early as the 21st.
There is also controversy over whether the planned listing of SK hynix’s U.S. grandchild company, Solidigm, would constitute a dual listing. The previous day, Financial Supervisory Service Governor Lee Chan-jin said at a National Assembly audit, “Both the Financial Services Commission and the Financial Supervisory Service consider it to run afoul of the rules on dual listings.” Solidigm is a U.S. corporation established by SK hynix after it acquired Intel’s NAND flash and solid-state drive (SSD) business. It is reportedly pursuing a U.S. listing.

[email protected] Im Sang-hyeok Reporter