SK Hynix shares surged nearly 12%, following gains in U.S. stocks
On Wednesday morning, SK Hynix's share price surged more than 11.8% in early trading in Seoul. This was driven by overnight gains in U.S. technology stocks after U.S. inflation data was lower than expected, and also benefited from Barclays Bank's first research report on it. Barclays gave the company's newly listed American depositary receipts (ADRs) an "overweight" rating and a price target of $330 per share; the stock traded on The market surged nearly 28% to close at $193.92. South Korea's benchmark stock index KOSPI rose 6.9%.