With the New York stock market finishing higher the previous day and news that Chey Tae-won, chair of SK Group, bought 4.8 billion won worth of SK hynix shares on the open market, SK hynix(000660) is surging 16% in premarket trading on the 31st. Samsung Electronics(005930) is also jumping 14%.
As of 8:25 a.m. that day, in NEXTRADE (NXT) premarket trading, SK hynix is trading at 1,537,000 won, up 215,000 won (16.26%) from the previous session's close.
At the same time, Samsung Electronics is trading at 235,500 won, up 28,500 won (13.77%).
The previous day, the New York stock market closed higher, helped by Microsoft (MS) strong earnings and a rebound in semiconductor stocks. The Philadelphia Semiconductor Index (SOX) jumped 8.19%, marking the biggest gain in 1 year and 3 months since Apr. 9, 2025 (18.73%).
Micron Technology (18.36%), SanDisk (25.99%), and AMD (13%)—major semiconductor names—posted double-digit gains. SK hynix American depositary receipt (ADR) also surged 17.52%.
The previous day, the chair said he bought 3,620 common shares on the open market (4.78564 billion won). It was Chey's first direct purchase of SK hynix stock. Earlier, Chey said of SK hynix's share price, "Because memory will continue to be needed, over time it will trend upward," adding, "Don't keep buying and selling; just hold it quietly. That's a good way to preserve assets."