KOSPI closes higher after SK Hynix shelves US IPO plan for chip unit
South Korean shares recovered early losses to close higher. SK Hynix rose 4.42% after putting a planned US listing of its Solidigm unit on hold.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
South Korea's KOSPI index closed higher on Friday, recovering early losses that reached 4.12%. The benchmark gained 0.30%, or 16.53 points, to finish at 5,550.30, according to a Reuters market round-up.
SK Hynix jumped 4.42% after putting on hold a planned US listing of its Solidigm chip unit due to market volatility. The move followed a 6.7% slump in the Philadelphia Semiconductor Index on Thursday over concerns about AI investment.
Foreigners were net sellers of shares worth 994.1 billion won. The won strengthened 0.14% to 1,324.6 per dollar, and the central bank governor said there was room for further gains. The three-year Korean bond yield fell 4 basis points to 3.800%, while the 10-year yield dropped 5 basis points to 4.094%.
why it matters
The story matters for the chip sector and AI supply chains, as the IPO pullback eased pressure on SK Hynix. Foreign investors will watch the won and the performance of US chip stocks.
market impact
South Korean equities and chipmakers: IPO pullback supports SK Hynix, easing sector pressure
tags
instruments
sources
- South Korean shares end higher after SK Hynix puts US IPO plan on hold — Reuters, 23 October 2026 at 06:52 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗