SK Hynix Sees Seoul Shares Slip After Strong Nasdaq Debut

Deep News

07/13

Shares in SK Hynix fell as much as 4.4% during early Monday trading.

This decline followed the global leader in AI memory chips experiencing a significant 12.8% surge on its high-profile first day of trading on the Nasdaq on Friday.

The South Korean memory chipmaker raised more than $26 billion by issuing American Depositary Receipts (ADRs) at a price of $149 each.

The stock opened at $170, a 14% premium to its issue price, and closed its debut session up 12.8%.

Meanwhile, South Korea's benchmark KOSPI index was down 0.4%.

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