SK Hynix Falls Nearly 5% in US Pre-market Trading

On July 29, SK Hynix fell nearly 5% to $123.71 in US pre-market trading. In the Korean market today, SK Hynix closed down 9.6%, after falling nearly 20% at one point during the session, the largest intraday decline on record, and a 53% retreat from its June high. On the news front, SK Hynix reported results this morning showing that second-quarter operating profit surged 557% year-on-year to 60.5 trillion won, and revenue rose 257% to 79.3 trillion won, both setting quarterly records, but still falling short of analyst expectations. Market concerns deepened over whether AI chip demand can sustain the high valuation.