Japanese memory-chip maker, spun from Toshiba in 2018; a leading NAND supplier.
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
Luxshare Precision Industry plans a Hong Kong share sale to raise up to HK$24.3 billion, largely for expanding beyond consumer electronics into automotive and data-center hardware. The deal targets international investors, with pricing details due in early July and trading expected to begin July 9.
Memory-chip stocks have surged on AI demand but face a sharp pullback as investors reassess valuations and the U.S. listing gap for SK Hynix widens, with analysts expecting volatility to persist into the next quarter.
Investors are piling into AI-focused exchange-traded funds, including leveraged products that amplify daily moves. The wave comes as traditional mutual funds see outflows and ETFs capture more capital, while bond exposure faces debate amid volatility and new regulatory considerations.
China’s CXMT has raised about $8.6-9.8 billion in its STAR-market IPO, underscoring Beijing’s drive for tech self‑reliance. The stock surged on debut but faces headwinds from limited access to EUV tooling and ongoing competition from Samsung, SK Hynix and Micron. Analysts say long-term success depends on closing technology gaps, not investor enthusiasm.
The weekend has seen a pause in Iran’s retaliatory strikes as talks with Oman progress on safe passage through the Strait of Hormuz. The US has held off further strikes, while Yemen’s Houthi actions have expanded and crude prices have eased from earlier spikes, though Brent remains above $90 a barrel.
Tech shares across Asia buoyed by AI optimism, with notable gains in SK Hynix, Samsung, Kioxia, Advantest and TSMC as markets rebound from recent volatility and traders reassess AI investment momentum.
SK Hynix has opened a US packaging facility in Indiana, a centerpiece of its plan to boost domestic memory production for AI. Production is slated to begin in 2028, with a larger role for the US supply chain and 1,000 jobs at full operation. Meanwhile, Kioxia plans a third plant in Japan as global memory suppliers expand capacity to meet AI demand.
Global markets waver as AI-linked stocks retreat after OpenAI signals a potential year-end stock sale delay. SoftBank jumps on OpenAI ties; oil prices rise amid Middle East tensions. Wall Street edges lower as investors weigh safety over growth.