[Special Stock] SK Hynix Soars Over 4% Amid US Semiconductor Rally

SK Hynix is soaring, fueled by the rally in U.S. semiconductor stocks on the previous day (local time). The U.S. stock market closed at all-time highs as the April Consumer Price Index (CPI) showed a solid performance, increasing expectations for a rate cut in September.

As of 10:13 a.m. on the 16th, SK Hynix is trading at 193,300 KRW, up 4.32% (8,000 KRW) compared to the previous trading day.

Last night, Nvidia and AMD rose by 3.58% and 4.25%, respectively. The Philadelphia Semiconductor Index also increased by 2.88%. SK Hynix is interpreted as attracting investor sentiment as it leads the artificial intelligence (AI) semiconductor market by surpassing Samsung Electronics in the high-bandwidth memory (HBM) sector.

Meanwhile, the U.S. April CPI rose 3.4% year-over-year, slightly slowing from the previous month’s 3.5%. The core CPI, which excludes volatile food and energy prices, increased 0.3% month-over-month and 3.6% year-over-year. The core CPI also eased compared to the previous month.

The April CPI significantly undershooting expectations has raised hopes that the Federal Reserve (Fed) may begin cutting interest rates as early as September. Consequently, the three major New York indices all closed at record highs.