Storage concept shares staged a strong rebound on Thursday. SanDisk Corp. soared more than 19%, Seagate Technology PLC climbed nearly 18%, Western Digital rallied over 16%, while SK hynix and Micron Technology both advanced upwards of 12%.

In terms of catalysts, Choi Tae-won, Chairman of SK Group, purchased 3,620 shares of SK Hynix. Based on Thursday’s closing price, the total consideration stood at roughly 4.8 billion South Korean won, equivalent to approximately 3.34 million US dollars. The share purchase has lifted market sentiment for the memory sector.

Separately, Goldman Sachs hosted a specialist networking seminar focused on Korea’s storage industry on July 28. Industry specialists in attendance projected that conventional DRAM prices will maintain robust double-digit percentage growth throughout this year. Meanwhile, HBM prices are poised for steep hikes next year, with a potential doubling in value on the cards.