$26.5 Billion Bet on AI: SK Hynix's U.S. Debut Sparks Fresh Market Euphoria

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$26.5 Billion Bet on AI: SK Hynix’s U.S. Debut Sparks Fresh Market Euphoria

Asian markets brushed off fresh Middle East tensions as chipmakers powered a broad rally ahead of SK Hynix’s highly anticipated U.S. listing.

Asian stocks jumped on Friday, led by chip and AI names, as investors looked past renewed U.S.-Iran hostilities to focus on SK Hynix’s debut on the American market later in the day.

Key Details

Japan’s Nikkei climbed 1.8%, while South Korea’s KOSPI surged over 5%, cementing its run as the world’s best-performing major index since 2025. SK Hynix shares rose nearly 3%, and Samsung gained 6%. Taiwan’s markets stayed shut due to a typhoon.

SK Hynix priced its American Depositary Receipts at $149, pulling in roughly $26.5 billion – the second-biggest share sale globally after SpaceX’s IPO last month. Overnight, Micron’s pledge to pour over $250 billion into U.S. manufacturing through 2035 sent the Philadelphia Semiconductor Index up 3%.

Market Reaction

Brent crude is on track for a 5% weekly gain, its best since May, though prices near $76.73 remain well below February’s highs. The yen strengthened 0.4% to 161.69 per dollar after Japan’s finance minister floated encouraging pension funds like GPIF to boost domestic holdings – seen as a softer alternative to direct currency intervention.

For traders, SK Hynix’s listing could reshape how investors value the entire South Korean chip sector, with ripple effects for Samsung. Meanwhile, oil’s inflationary risk and yen policy shifts add fresh variables to rate expectations, with markets currently pricing in 34 basis points of hikes this year.

What to Watch

Keep eyes on SK Hynix’s ADR pricing versus its Seoul-listed shares, and any escalation risk around the Strait of Hormuz that could jolt oil markets.

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Source: Reuters

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