SK Hynix Announces Massive Stock Buyback, Shares Surge Over 12%
Shares of SK Hynix surged over 12% on Thursday after announcing an accelerated stock buyback program worth 40 trillion won ($28.7 billion). The company plans to expand shareholder returns beyond 50% of cumulative free cash flow from 2025-2027, signaling confidence in its long-term growth despite ongoing challenges in the memory sector. The announcement follows SK Hynix's earlier commitment this month to invest 54 trillion won into new memory chip manufacturing plants. Analysts suggest that the buyback could provide a meaningful floor for the stock price and offer downside protection amid market volatility. The broader Asian tech sector also saw gains, with stocks like Samsung Electronics rising over 8% in South Korea. Market sentiment was further supported by U.S. equity rebounds after yields on longer-dated Treasurys retreated from multi-year highs.
Tickers: $SKHYV
Topics: Asia tech stocks buyback program semiconductors SK Hynix