SK hynix (SKHY) recorded a 24-hour surge of 5.25%, recovering sharply as a wave of positive catalysts swept through the memory chip sector. The stock staged a powerful rebound from earlier losses, driven by a strong vote of confidence from the company's top leadership and a broad-based sector rally.

The rally was sparked by SK Group Chairman Choi Tae-won's purchase of 3,620 shares of SK hynix on the open market, marking his first-ever direct personal stake in the company. With the stock having retreated significantly from its June highs, the chairman's move was widely interpreted as a bottom-fishing signal, significantly boosting investor sentiment. The broader memory sector also provided a favorable backdrop, with peers like SanDisk, Western Digital, Seagate, and Micron Technology all posting substantial gains.

Additional support came from UBS initiating coverage on SK hynix's US-listed shares with a Buy rating and a $204 price target, citing structural improvements in the memory industry driven by AI-related demand. A Goldman Sachs seminar also projected robust double-digit price growth for conventional DRAM and potential doubling of HBM prices next year, further underpinning the sector's rebound.