SK hynix(000660) shares jumped 9% right after the open on the 15th, reclaiming the 2 million won level. This is seen as reflecting the impact of the Nasdaq-listed American depositary receipts (ADR), which surged 27% on the tailwind for U.S. semiconductor stocks.

On the 15th, as the KOSPI recovers the 7,000 mark, a board in the dealing room at Hana Bank in Jung-gu, Seoul displays real-time prices for the KOSPI and SK hynix. That morning, the KOSPI opens at 7,082.91, up 226.08p (3.30%), and the KOSDAQ opens at 805.71, up 21.73p (2.77%). /Courtesy of Yonhap News Agency

At 9:10 a.m. that day, SK hynix shares were trading at 2,093,000 won on the Korea Exchange, up 9.41% (180,000 won) from the previous session. With the early-session spike, the share price recovered the 2 million won level.

SK Square(402340), which holds equity in SK hynix, is also soaring.

Overnight, SK hynix ADR listed on the U.S. Nasdaq closed up 27.29% on optimism about an improvement in the memory chip cycle as investment in artificial intelligence (AI) expands.

In particular, it is seen as being influenced by the full-fledged start of options trading and leveraged exchange-traded fund (ETF) trading based on SK hynix ADR as the underlying asset.

On top of that, a global investment bank (IB) analysis set a target price of $330 for SK hynix ADR. Barclays analyst Simon Coles suggested this in a report that day, noting that the memory supply shortage is likely to persist.

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