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Finance
SK Hynix Nasdaq debut puts ADR listing effects in focus
SK Hynix is set to enter the Nasdaq market on July 10 local time, raising expectations for a broader global investor base and a re-rating of its value. The company priced 177.9 million ADS at $149 each, for proceeds of about $26.5 billion, by issuing 17.79 million new common shares. Trading starts conditionally under SKHYV and switches to SKHY. Analysts note possible dilution and demand dispersion, and say past ADR cases did not guarantee long-term share gains.
Finance
KOSPI up 2.5 percent, KOSDAQ up 5.5 percent; buy sidecar triggered in both markets
South Korea\'s KOSPI and KOSDAQ surged on Thursday, triggering buy sidecars in both markets, as bargain hunting followed a recent sharp decline. The KOSPI ended up 2.52 percent at 7,475.94, while the KOSDAQ rose 5.47 percent to 837.43. Institutions were net buyers in the KOSPI. Most heavyweight stocks advanced, though SK Hynix slipped. The won strengthened slightly against the dollar.
Finance
KOSPI edges up after three-day slide; SK Hynix jumps over 5 percent
South Korea’s KOSPI snapped a three-session slide to end slightly higher on July 9, lifted by a more than 5 percent jump in SK Hynix a day ahead of its U.S. ADR listing. The index closed up 0.62 percent, after opening sharply higher and swinging widely during the session. Foreigners and institutions were net buyers, while individuals sold. The Kosdaq also rose but failed to regain 800.
