SK hynix (SKHY) surged 7.64% in early trading, recovering sharply from recent losses after SK Group Chairman Choi Tae-won purchased additional shares of the company, signaling strong confidence in the memory chip giant.

The rally was fueled by the chairman's acquisition of 3,620 shares, which turned the stock positive and sparked a broader recovery across the memory sector. Pre-market trading saw SK hynix initially climb nearly 2% alongside peers such as SanDisk, Western Digital, and Micron Technology, all of which posted gains amid renewed investor appetite for semiconductor stocks.

The bounce comes after a multi-day selloff triggered by SK hynix's second-quarter earnings miss, which had sent the stock tumbling. The chairman's vote of confidence, combined with the sector-wide rally, helped the stock rebound sharply and regain positive momentum.