SK Hynix's $29 billion US Nasdaq listing gives US investors direct access, attracts passive fund inflows, and helps narrow the valuation gap with Micron (SK Hynix trades at 6.2x forward earnings vs. Micron's 7x), lifting both the US-listed and onshore shares.
Samsung is attractively valued at 5.3 times forward earnings, well below its five-year average and other tech stocks, while benefiting from booming AI chip demand, memory chip tightness, and a fresh Apple partnership. Traders see it as not too late to join the rally.
South Korean stocks, as represented by the KOSPI, are rallying strongly, up over 5% in one day and 70% year-to-date, driven by foreign buying momentum and a new partnership between Samsung Securities and Interactive Brokers that allows direct access for foreign investors.