SK Hynix shares in Seoul fell more than 10% on Monday, erasing much of the momentum generated by the company's blockbuster listing on the Nasdaq just days earlier.
The sharp reversal in the home market came as traders locked in profits following the American depositary receipt's strong debut, which saw the stock surge 13% on its first day of U.S. trading.
4% in Seoul trading, indicating that selling pressure has intensified as the session progressed.
The sell-off highlights the volatility surrounding the memory chipmaker's dual-listing strategy.
While the Nasdaq debut raised $26.5 billion and signaled robust international investor appetite, the immediate reaction in Seoul suggests local investors are cautious about sustaining the elevated valuations.
The decline underscores a broader tension in the semiconductor sector: while artificial intelligence memory demand remains structurally strong, short-term price action is increasingly driven by technical profit-taking rather than fundamental shifts.
This move follows an earlier intraday dip of 4.4% in Seoul trading, indicating that selling pressure has intensified as the session progressed. The divergence between the U.S. and Korean markets offers a clear signal to global traders: the initial euphoria of the Nasdaq listing has given way to a more disciplined assessment of risk.
Investors will now look to upcoming earnings reports from key semiconductor peers for further direction.