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Major Story (7/10)
August 20, 2026 at 05:28 AM
SK Hynix Announces $28.7 Billion Buyback, Shares Jump 12% as Korea's Kospi Surges 6%
SK Hynix's board approved a 40 trillion won ($28.7 billion) share repurchase and cancellation program after Wednesday's market close, and Seoul investors responded exactly how you'd expect. Shares jumped as much as 13% Thursday morning, according to Dow Jones Newswires reporting carried by Morningstar, making it the single biggest gainer on a Kospi index that itself surged more than 6% to break through 6,880 for the first time.
A buy-side circuit breaker tripped around 9:57 a.m. local time when KOSPI 200 futures spiked more than 5%, according to BigGo Finance, citing Korea Exchange data. That's the 24th such halt this year on the buy side alone, part of 49 total circuit-breaker activations in 2026. Markets have been genuinely unhinged.
Samsung Electronics rode the same wave, gaining nearly 9%, with Samsung Electronics
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