In early trading on the 16th, SK hynix(000660) is plunging 8%. It is seen as due to the 9% drop in SK hynix American depositary receipt (ADR) listed on the Nasdaq overnight.
As of 9:14 a.m. on the 16th, SK hynix is trading at 1,914,000 won, down 168,000 won (8.07%) from the previous session on the Korea Exchange.
It is seen as due to the drop in SK hynix ADR the previous day. The ADR closed at $176.46 on the Nasdaq, down $17.46 (9%).
Semiconductor stocks were broadly weak on the New York stock market. Micron Technology fell 9%. Intel and AMD also dropped more than 5% and 3%, respectively.
SK hynix common shares are moving in tandem with ADR moves. On the 14th, as SK hynix ADR surged 27% with the start of derivatives trading, SK hynix common shares jumped 8.83% at the close the previous day.