SK Hynix erased a 9% intraday plunge Tuesday to close higher as aggressive dip-buying absorbed the selloff. The stock fell as low as 145,000 won before buyers pushed it back above 160,000 won.
SK Hynix (000660.KS) erased a 9% intraday plunge Tuesday to close higher, as aggressive dip-buying absorbed the selloff that followed the stock's historic 15% drop a day earlier.
The stock opened sharply lower, extending Monday's rout that wiped out roughly $20 billion in market value after a Goldman Sachs downgrade and broader AI hardware weakness. Buying pressure built through the session, with the stock turning positive in the final hour of trade.
Traders pointed to retail and institutional buying as the main force behind the reversal. Korea Exchange data showed net purchases by individual investors exceeded 200 billion won during the session, the highest single-day inflow in weeks.
The rebound came despite continued weakness in global AI chip stocks. NVIDIA fell 3% in pre-market trading, and the broader Philadelphia Semiconductor Index remained under pressure.
SK Hynix's recovery was notable for its speed and size. The stock had fallen as low as 145,000 won before buyers stepped in, pushing it back above 160,000 won by the close. That left the stock down roughly 18% from its peak last week.
The company reports second-quarter earnings on July 25. Analysts expect revenue of about 16 trillion won, up 85% from a year earlier, driven by HBM3E memory chip sales to NVIDIA.
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