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SK Hynix Falls 11% on July 17 as Global Chip Stocks Tumble; Chairman Says Hold Long-Term

2026-07-17 06:49:44

SK Hynix-11.52%

SKHY-13.53%

SKHYV-0.98%

TSM-2.32%

According to South Korean media E-Daily, SK Hynix shares fell 11% to 1.842 million Korean won on July 17 (Korea's Constitution Day), with its U.S. ADR dropping 13.69% the previous day as major semiconductor stocks tumbled globally. The selloff followed strong quarterly results from Taiwan's TSMC, which reported AI chip demand surge but failed to stem broader memory sector declines. SK Group Chairman Choi Tai-won advised investors at the Korea Chamber of Commerce's summer forum in Jeju to hold their positions rather than engage in short-term trading. "Memory will continue to be needed, so given time, the stock will trend upward," Choi said. He emphasized that AI remains "still a 4-year-old child" and memory demand will grow exponentially as the technology matures.

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