SK Hynix Plunges 24.3% as KOSPI Posts Worst Week Since 2008
SKHY is trading near its 52-week low of $124.8 (11% above the low).
Summary
SK Hynix lost 24.3% this week, its worst weekly drop since October 2008, as South Korea's KOSPI index fell 14.46% — the steepest weekly decline since the Lehman Brothers collapse. Thursday alone saw a 7.57% index drop that tripped a 20-minute circuit breaker. Samsung Electronics fell 17.8% for the week, and the iShares MSCI South Korea ETF (EWY) was down more than 13%. The KOSPI now sits 37.8% below its record close of 9,114.55, though it remains up 34.5% in 2026. This is a broad market rout hitting SK Hynix and Samsung hardest, not a company-specific event — the scale of the move suggests forced selling or a macro shock rather than a fundamental change in SK Hynix's business. The company's recent filings show record Q2 revenue of 79.3 trillion won and a 40 trillion won buyback program, so the selloff is disconnected from reported fundamentals. Watch whether the KOSPI stabilizes next week or whether the circuit-breaker volatility continues.
At the time of this announcement, SKHY was trading at $139.10 on NASDAQ in the Technology sector, with a market capitalization of approximately $681.6B. The 52-week trading range was $124.80 to $199.87. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.