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SK Hynix Announces $28.7 Billion Buyback, Shares Jump 12% as Korea's Kospi Surges 6%

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 buyback and cancellation program late Wednesday, sending shares up as much as 13% Thursday and dragging the Kospi up more than 6%. The rally reverses a brutal Wednesday selloff and comes as SK Hynix separately prepares to list ADRs on Nasdaq, raising $26.5 billion in what Breitbart called the biggest-ever U.S. IPO by a foreign company.

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.

Sources used for this briefing

7 links from 7 independent newsrooms (syndicated copies of the same report count once)

These are the sources it draws on, linked so you can verify.

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CNBCSK Hynix shares surge over 12% in Seoul after announcing massive stock buyback
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BreitbartSK Hynix hits the U.S. stock market as demand for memory chips soars amid AI frenzy
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Fox NewsGovernments can take your stocks without your permission. It happens all the time
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BigGo Financebiggo.com
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businesstimes.com.sgSouth Korea’s Kospi jumps 5.8% as Asian stocks rise after bond rally
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financefeedsSK Hynix Announces $28.6B Buyback as Memory Stocks Slide
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morningstarSK Hynix Shares Surge Amid Hopes for Higher Shareholder Returns