On July 31, SK hynix rose 6.29% in pre-market trading, trading at $158.1/share, with turnover of $103 million. The stock extended gains as its Seoul-listed shares hit the 30% daily limit up while the Korean KOSPI index surged 18%, recording its largest single-day gain in history.

Multiple catalysts are driving the rally. SK Group Chairman Choi Tae-won made his first-ever personal open-market purchase of 3,620 shares of SK hynix for approximately 4.8 billion won, marking his first direct personal holding after previously controlling the company indirectly through SK Square. The stock had retreated over 50% from its June highs, and the purchase was widely interpreted as a bottom-fishing signal. UBS also initiated coverage with a target price of $204. Meanwhile, Samsung and SK hynix reported combined record Q2 operating profits of 150 trillion won, with both companies projecting memory chip shortages to persist through 2028-2030, supporting a structural re-rating thesis for the storage sector.

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