South Korean chipmaker SK Hynix gains after announcing a $29.4B U.S. listing and benefiting from Micron’s strong quarterly results.
SK Hynix shares climbed more than 12% after revealing plans to raise up to $29.4B through a Nasdaq listing. The move aims to broaden investor access and close the valuation gap with rival Micron, which reported robust quarterly earnings.
Micron’s strong results reinforced expectations of sustained supply constraints in the AI memory chip market, a positive signal for SK Hynix. Analysts noted the listing could enhance the company’s corporate valuation amid rising demand for memory-focused tech stocks.
Investor sentiment improved across Asian semiconductor stocks, driven by shared market dynamics and global interest in a supply-constrained environment.