SK Hynix Shares Jump Over 12% on $28.7 Billion Buyback Plan
SK Hynix shares surged more than 12% after the South Korean chipmaker unveiled a massive $28.7 billion share buyback and cancellation program, boosting investor confidence in its long-term growth prospects.
SK Hynix shares climbed sharply after the company announced plans to accelerate a KRW 40 trillion share buyback and cancellation program. The company aims to return more than half of its free cash flow generated between 2025 and 2027 to shareholders, reinforcing its commitment to shareholder returns. Analysts said the move could provide a strong support level for the stock amid volatility in the memory-chip market. The announcement follows SK Hynix’s plan to invest KRW 54 trillion in new memory-chip production facilities to capitalize on growing demand for AI-related semiconductors. The positive sentiment also spread across Asian technology stocks, with Samsung Electronics, SoftBank and Nintendo posting notable gains.