SK hynix, a South Korea-based memory chip maker, hit the country’s 30% daily stock price limit on July 31 as chip stocks rebounded from a recent selloff.

Microsoft’s results helped ease concerns about AI infrastructure spending.

SK hynix shares rose 29.95% to 1.7 million won (US$1,200), while Samsung Electronics gained 25.6% to 260,000 won (US$180).

The broader market rally triggered trading curbs on the Kospi and Kosdaq soon after the open.

The rebound followed Microsoft results that kept capital expenditure unchanged, helping calm fears of a pullback in AI data-center investment.

It also followed a chip selloff that erased US$1 trillion in market value as investors questioned whether AI spending could justify chip-stock valuations.

The move came a day after SK Group Chairman Chey Tae-won bought 3,620 SK hynix shares worth about 4.8 billion won (US$3.31 million).

🔗 Source: The Korea Herald

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