SK Hynix Slides in Seoul After Strong Nasdaq Debut Triggers Profit-Taking
SK Hynix fell in Seoul after its Nasdaq-listed ADSs jumped 12.8% in their debut. The $26.5 billion offering expands U.S. access to a major HBM supplier but also highlights profit-taking, valuation and AI-cycle risks.
MSA market desk
Desk brief
SK Hynix shares fell sharply in Seoul on Monday, July 13, after the memory-chip manufacturer’s American depositary receipts surged 12.8% in their Nasdaq debut. The Korean-listed shares declined as investors appeared to lock in gains and reassess the valuation gap between the two listings. ([apnews.com](https://apnews.com/article/73f13a85ae00e30bad0540281bbe44f3?utm_source=openai))
SK Hynix raised approximately $26.5 billion by pricing 177.9 million ADSs at $149 each, with every ADS representing one-tenth of a common share. The transaction was the largest U.S. share offering by a foreign company and was driven by investor demand for exposure to high-bandwidth memory used in artificial-intelligence systems. ([aa.com.tr](https://www.aa.com.tr/en/economy/sk-hynix-raises-265b-in-record-us-share-offering/3994121?utm_source=openai))
The initial rally has also sharpened concerns about sustainability. SK Hynix’s earnings outlook is closely tied to HBM pricing, AI-capital-spending plans and the pace at which new production capacity comes online. A pullback in Seoul therefore reflects both cross-listing-related profit-taking and broader sensitivity to elevated expectations across the semiconductor sector. ([live.euronext.com](https://live.euronext.com/en/financial-news/sk-hynix-sinks-after-nasdaq-debut-amid-profit-taking-easing-earnings-optimism?utm_source=openai))
For global investors, the debut establishes a liquid U.S. trading venue for one of the principal suppliers to the AI hardware ecosystem. However, the early divergence between the Nasdaq receipts and Seoul shares may increase short-term arbitrage activity and volatility in both markets.
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