A top-performing technology fund plans to own SK Hynix Inc.’s shares, betting that tighter supply will further benefit the South Korean AI memory chipmaker after a 1,000% rally in the past year.
South Korea’s stock market lurched from one extreme to another for a third straight session Wednesday, extending a stretch of swings that has whipsawed investors and repeatedly triggered market safeguards.
The closing figures of South Korea's benchmark Kospi and Kosdaq indexes in Seou on June 8. Photographer: NurPhoto/NurPhoto
The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix Inc. and Micron Technology Inc. above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry.
South Korea’s equity market has overtaken India’s as the world’s sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout.
The total market capitalization of Korea-listed companies has soared 86% this year to $5 trillion.
The rally in China’s semiconductor stocks is poised to extend thanks to upcoming blockbuster IPOs and technology breakthroughs, investors and analysts say.
A leveraged exchange-traded fund tracking SK Hynix Inc. deviated sharply from the underlying stock’s move for a second day, underscoring the risk of investing in such products that have attracted strong retail interest.
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