SK Hynix surges 12% as US listing plan boosts valuation hopes

SK Hynix surged up to 12% after announcing plans for a US ADR listing worth 45.45 trillion won, with trading expected to begin on July 10. The company, a leading supplier of high-bandwidth memory for AI applications, has seen its Seoul-traded stock climb over 800% in the past year, pushing its market value above $1 trillion. Samsung Electronics also rallied alongside, helping drive the Kospi Index up by 6%, as investors drew comparisons to TSMC's 1997 ADR debut and anticipated a narrowing of SK Hynix's valuation discount relative to global peers.