Leveraged ETF on SK hynix Soars 8% as S&P Forecasts Up to 40 Trillion Won Buyback in Q4

Stock News09-09 09:43

Shares of the CSOP SK hynix Daily Leveraged (2x) Product (07709) have jumped over 8%, with a 7.58% gain to HK$44.86 at the time of writing, on trading volume of HK$505 million. The surge comes as global memory chip supply tightens amid booming artificial intelligence development and surging computing power demand.

A South Korean brokerage firm issued a fresh warning based on Q3 market assessments, noting that available memory chip inventories at both Samsung Electronics and SK hynix have fallen to less than 10 days of supply. Additionally, UBS projects that DRAM and NAND supply shortages will persist through 2027.

Meanwhile, S&P Global Market Intelligence indicated that SK hynix could announce a new share buyback program worth up to 40 trillion won (approximately US$28 billion) in the fourth quarter. Mohammad Hassan, head of S&P's Asia-Pacific equity dividend forecasting, stated in an interview: "We anticipate further buyback announcements will be revealed in Q4."

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