South Korea's SK Hynix slides over 5% ahead of $29 billion Wall Street debut

South Korea's SK Hynix slid over 5 percent ahead of a planned around 29 billion dollar American Depositary Receipt listing on Nasdaq, set to be the world's second-largest share sale after SpaceX's 85.7 billion dollar IPO. The stock has surged about 273 percent year-to-date, fuelled by AI-driven demand for its high-bandwidth memory chips supplied to Nvidia and Google. South Korea also unveiled a 576 billion dollar semiconductor and AI investment programme, with SK Hynix planning 100 trillion won in new chip manufacturing facilities.