Seoul, June 28, 2026, 02:02 (KST)
- SK hynix shares dropped 8.36% to 2,673,000 won in Friday trading, with the stock last changing hands before the Korea Exchange closed for the weekend.
- Shares lost about 174 trillion won in market value in a day, using Google Finance’s outstanding shares count. That’s close to four times the 45.45 trillion won size for the planned Nasdaq ADR sale.
- KOSPI slid 5.81% Friday, ending the week down 7.1%. Circuit breakers hit for the second time this week.
- Monday brings the next tape. SK hynix has set July 6 for its next formal deal date, the start of ADR bookbuilding.
Korea Exchange stayed closed Sunday in Seoul, so SK hynix Inc. KRX:000660 won’t see any new trades until markets open for the week. The exchange works on KST and runs normal weekday sessions. Seoul time was 02:02 on June 28.
SK hynix (000660:KRX) dropped 8.36% Friday, ending the session at 2,673,000 won, off 244,000 won on the day. The stock swung between 2,600,000 and 2,880,000 won. Market cap sat at 1,905.05 trillion won, based on 712.70 million shares, according to .
Friday’s drop is now in focus for investors. SK hynix shares fell 244,000 won, and with 712.70 million shares out, that wipes out around 173.9 trillion won in market value in just one day. SK hynix is set to issue up to 17.79 million new shares via American depositary receipts on Nasdaq, worth 45.45 trillion won. The company’s market cap lost almost four times that ADR sale before the U.S. listing even gets underway.
The stock moved in wide ranges through the week, not just dropping straight. It finished at 2,764,000 won on June 19, then went to 2,919,000 won Monday. Tuesday saw it drop down to 2,555,000 won, but it rebounded to 2,917,000 won Thursday before settling at 2,673,000 won on Friday. That made for a 3.3% loss for the week, as day-to-day swings tested risk controls. Volume on Friday hit 7.47 million shares, which FactSet data on WSJ says is 43% over the 65-day average.
KOSPI dropped 519.09 points, or 5.81%, to 8,411.21 on Friday. The index was down as much as 9% in early trade and circuit breakers kicked in for the second time this week. KOSPI finished the week off 7.1%, the biggest weekly loss since early March. Foreigners sold a net 4.6 trillion won. Retail investors bought 8.2 trillion won.
Heavy chip exposure drags KOSPI. Samsung Electronics KRX:005930 and SK hynix now make up over half the index, Reuters said Friday via The Star. Samsung dropped 5.3% Friday. SK hynix lost 8.4%.
KOSPI’s sharp drop Tuesday shows how “volatility has blown out,” said CLSA chief equity strategist Alexander Redman. Redman said “retailers are in the driving seat,” adding that leveraged single-stock ETFs and record margin debt are pushing more heat into the market. Reuters
HBM remains the bull story. SK hynix passed Samsung in market value on Monday to become South Korea’s top listed company, with 2,080.4 trillion won, just ahead of Samsung’s 2,066.7 trillion won, excluding preferred shares. SK hynix is set to hold 61% of the global HBM market in 2025, ahead of Micron Technology NASDAQ:MU and Samsung, according to Reuters. “Customised AI memory fundamentally changed the industry’s economics,” said Kim Sunwoo, senior analyst at Meritz Securities. Reuters
The ADR move could still boost its valuation. Ryu Young-ho, senior analyst at NH Investment & Securities, said a Nasdaq listing might let SK hynix trade alongside Micron and get “re-rated in the U.S. market.” Gary Tan, portfolio manager at Allspring Global Investments in Singapore, said the upcoming capital raise “implies only limited dilution” and was small compared to mid-term capex plans. Reuters
Kioxia Holdings (TYO:285A) fell 12% in Tokyo trading Friday, pressured by a report that OpenAI might push back its IPO, which triggered a selloff in AI-linked names. The move wasn’t limited to Korea. Kioxia said it was weighing a stock split and plans for ADRs to start trading in the U.S. at the beginning of the next financial year.
South Korean markets open again Monday, with investors watching if Friday’s 8.2 trillion won in retail buying sets a floor or just adds risk. Samsung is set to lay out its 10-year investment plans in South Korea on Monday—possible chip-factory spending is in the mix, according to a Friday Reuters market report. SK hynix’s ADR offering starts bookbuilding July 6, with pricing targeted for July 9 and a Nasdaq start on July 10, The Star reported .
