SK hynix(000660) was surging more than 22% early on the 31st. With artificial intelligence (AI) stocks soaring in the U.S. market overnight and news that Chey Tae-won, chairman of SK Group, made an open-market purchase of 4.8 billion won worth of shares, buying interest appears to be piling in.

On the 31st, an electronic board in the dealing room at Hana Bank in Jung District, Seoul displays SK hynix's share price. The KOSPI index opens at 5,657.79, up 64.23 points (1.15%) from the previous session, and quickly breaks through the 6,000 level. /Courtesy of News1

As of 9:19 a.m. that day, SK hynix shares were trading at 1,616,000 won on the Korea Exchange, up 22.09% (292,000 won) from the previous session.

SK Square(402340), which holds equity in SK hynix, was also trading at 1,016,000 won, up 27,41% (219,000 won) from the previous day.

The previous day, news emerged that the chairman made an open-market purchase of 3,620 common shares of SK hynix. Based on the previous day's closing price, the purchase amounted to 4.78564 billion won.

On top of that, the New York stock market also finished higher overnight. A rebound in semiconductor stocks had a big impact. The Philadelphia Semiconductor Index jumped 8.19% that day, and Micron, SanDisk, AMD, and Intel all posted double-digit gains. SK hynix American depositary receipts (ADR) also rose 17.52%.

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