SK Hynix is trading 4.2% down at KRW 1,764,000 as investors react to the price gap between its Seoul-listed shares and new Nasdaq ADRs ahead of the July 29 conversion date.
- Traders are increasingly pricing in arbitrage-driven pressure on the Korean line as the sizeable premium on Nasdaq ADRs is expected to compress once they become freely convertible.
- The selling pressure comes despite a generally bullish environment for memory chip peers, who continue to benefit from robust AI-related demand.
- Market participants are closely monitoring the convergence of the two listings as the conversion deadline approaches.