SK Hynix ADR shares open for trade at $170

CNBC's Kristina Partsinevelos reports on the US ADR listing of SK Hynix, a leader in high bandwidth memory and a key NVIDIA supplier. The ADR opened 15% higher, and the stock is positioned for strong passive index inflows and a potential valuation rerating. The company's US expansion and dominance in AI memory chips bolster the bull case. - SK Hynix ADR opened at $172–$173, roughly 15% above the $149 listing price. - SK Hynix dominates high bandwidth memory and is a critical supplier to NVIDIA. - The US listing provides first-time direct access for American investors. - Barclays estimates about $14 billion of passive index-tracking flows once added to major indices. - Forward P/E is cheaper than Micron, and the valuation gap is expected to narrow with US access. - The company is investing $4 billion in Indiana and the chairman signaled more investments ahead. - Commerce Secretary Howard Lutnick is pushing additional investment, competing with Micron's $50 billion expansion.