24H|SK Hynix Declines 3% Overnight, US Memory Chip Earnings Guidance Misses Expectations Amid Multiple Headwinds

Market Focus
Aug 07

SK hynix fell 3% in overnight trading. The decline extends the selling pressure triggered by weaker-than-expected earnings guidance from the US memory chip sector.

During the Korean trading session, SK hynix losses widened to as much as 4.6%, while the KOSPI index fell over 1%. The stock faces multiple concurrent headwinds: subsidiary Solidigm's pre-IPO fundraising plans remain uncertain with a target valuation of 50 trillion Korean won for a potential Nasdaq listing, though the company stated no final decision has been made. Additionally, a Korean shareholder group has filed criminal charges against the CEO alleging breach of fiduciary duty related to bonus schemes, and the labor union rejected management's proposal to distribute over half of bonuses in restricted stock, warning of potential further action.

Within the Semiconductors sector, individual stocks showed: Micron Technology down 0.58%, NVIDIA down 0.01%, Advanced Micro Devices down 0.04%, Intel down 0.31%, Broadcom down 0.08%.

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