SK hynix shares fell 5.01% over the past 24 hours, extending losses in post-market trading as multiple negative catalysts rattled investor sentiment.
The decline was fueled by a trio of headwinds. First, uncertainty surrounding subsidiary Solidigm's reported pre-IPO financing plans weighed on the stock. Solidigm is said to be seeking a valuation of 50 trillion Korean won for a Nasdaq listing, but SK hynix stated it is considering various options and has not made a decision, leaving investors uneasy. Second, a Korean shareholder group filed criminal charges against the CEO, alleging the company's bonus scheme violates fiduciary duties, with police launching an investigation. Third, the company's union rejected management's proposal to pay more than half of annual bonuses in restricted shares and warned of potential further action, amplifying short-term pressure.
Within the broader semiconductor sector, Micron Technology fell 2.02%, while NVIDIA, Intel, and Broadcom posted modest gains, and Advanced Micro Devices edged lower.