SK Hynix is trading 6.4% down at €912.00 following a sharp sector-wide selloff in memory chip stocks triggered by China’s CXMT IPO.
- Investors are concerned that the emergence of CXMT as a major DRAM player will significantly increase global supply and pressure market pricing.
- Sentiment was further dampened by a negative Credit Suisse note warning of peaking storage chip prices and broader jitters regarding the sustainability of AI-related spending.