SK hynix stock surges after trading suspension lifted

Chipmaker SK hynix posted a strong rally on Monday after the Korea Exchange lifted a trading suspension on large-cap stocks showing a "excessively" steep rise. The memory giant closed at 640,000 won ($447), up 6.84 percent from the previous trading day, after maintaining a brisk uptrend throughout the session. The rally was interpreted as a sign of growing investor confidence from the eased trading rule and cast a rosy outlook on its memory business, including high-bandwidth memory (HBM) for artificial intelligence (AI) accelerators. On Dec. 11, the exchange operator placed a trading freeze on SK hynix shares under a regulation that halts stocks that have surged more than 200 percent from a year earlier. The rule is intended to prevent price rigging in small-cap stocks, but was also applied to large caps such as SK hynix, prompting criticism that the restriction is outdated. After the exchange operator revised the rule to exempt the top 100 stocks on the benchmark KOSPI and secondary Kosdaq from suspension, SK hynix returned to trading, boosting investor sentiment toward chip shares. AlonWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times