SK hynix drops 4.23% on dual-listing worries, trailing KOSPI

Shares of SK hynix closed at 1,223,000 won on Oct 20, down 4.23% from 1,277,000 won the session before. For a holder abroad, the close came to about US$920.86 at the Bank of Korea rate of 1,328.1 won per dollar, a loss of 4.07% in dollar terms.

The drop was steeper than the market’s. The KOSPI ended at 5,552.74, off 3.73%, and the TIGER 200 fund, which tracks Korea’s 200 largest stocks, gave up 3.44% over the same session.

A dual-listing worry hits the shares

Chosunbiz tied the stock’s sharp decline to investor concern about a dual listing, meaning shares of a company or its unit trading on more than one exchange. The same outlet said selling by foreign investors dragged the wider KOSPI lower that day.

The move came one day after Korean regulators said a US listing of Solidigm would break local rules, as Pacific Tape reported on Oct 19. Whether that statement drove Tuesday’s losses has not been established.

Foreign money was already leaving before the drop. On Oct 19, foreign investors made net sales of about 28.2 billion won (US$21 million) across all KOSPI shares, not SK hynix alone. Their flows can swing the index, as this explainer shows.

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Almost a third gone since late September

Tuesday’s loss adds to a steep slide. Between Sep 28 and Oct 20, the stock lost 30.83% in won. Measured in dollars the decline was 28.9%, smaller because the won firmed from 1,365.1 to 1,328.1 per dollar over that stretch.

The worst single day in that run came on Oct 15, when the shares tumbled 11.06% to 1,262,000 won from 1,419,000 won. Across the five sessions ending Oct 20, the stock gave up 15.25%.

The size of the company makes these swings matter for the whole market. SK hynix was worth about 893.39 trillion won at Tuesday’s close, or 21.17% of the KOSPI 200’s total market value. Any fund tracking that index carries a large exposure to the stock.

Results call and repurchases ahead

SK hynix is scheduled to hold a conference call on its third-quarter 2026 results on Oct 28 at 09:00 KST. Its repurchase of 24,070,000 common shares, worth about 40.0 trillion won, runs until Nov 19. The company has said it intends to raise shareholder value by canceling the repurchased shares.

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Information only, not investment advice.