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Finance

Korean retail investors pay 10 percent premium for SK Hynix ADR

Korean retail investors sharply increased purchases of U.S. stocks during a domestic market correction, with July net buying at about $4.5 billion, CNBC reported. SK Hynix ADRs drew about $840 million, ranking second in Koreans’ U.S. securities net buying, even though the shares are available at home. Arcadian Asset Management’s Owen Lamont said the ADR traded about 10 percent above the Korean shares and called the buying abnormal.

Industry

SK Hynix shares slide despite record results

SK Hynix set this year’s investment plan at the high 40 trillion won range, raising concerns that today’s margin structure may be hard to sustain as depreciation rises. On a conference call, questions also focused on the risk of oversupply, terms of long-term supply agreements and the company’s shareholder return plans. Shares fell 17.42 percent on July 29. The company also outlined conditions for converting between its Seoul-listed shares and Nasdaq-listed ADRs.

Finance

SK Hynix ADR falls below IPO price; SpaceX also slumps after listing

SK Hynix’s U.S.-listed American depositary receipt has fallen below its IPO price, while SpaceX has also slipped under its offering level, adding to concerns about lofty valuations for newly listed U.S. stocks. SK Hynix’s ADR closed down 7.47 percent at $143.02, below its $149 IPO price. A semiconductor sector pullback and oversupply worries tied to AI infrastructure investment weighed on shares.