[Featured Stock] SK Hynix Surges Over 5% on Nvidia Rebound...

Overnight, U.S. tech stocks including Nvidia rebounded, leading SK Hynix's stock price to show strength in early trading on the 16th.

Yonhap News

According to the Korea Exchange, as of 10:29 a.m. on the day, SK Hynix was trading at 208,500 won, up 5.20% (10,300 won) from the previous trading day.

This stock price strength is attributed to Nvidia's rebound in the New York stock market. SK Hynix supplies high bandwidth memory (HBM) to Nvidia. Nvidia had fallen for five consecutive trading days but closed up 3.37% the previous day.

Meanwhile, Shin Young Securities recently raised SK Hynix's target price by 9% from the previous level to 240,000 won. Park Sang-wook, a researcher at Shin Young Securities, explained, "We are raising the target price as SK Hynix's technological competitive edge is expected to continue in the mid to long term along with the expansion of the AI market."