SK Hynix Erases Nasdaq Debut Gains in Record 44% Seoul Plunge

SK Hynix shares fell as much as 44% on July 13 in Seoul—their worst single day on record—just four days after the chipmaker's American depositary receipts closed 13% above the $149 offering price on Nasdaq. The $26.5 billion listing, the largest US share sale by a foreign issuer this year, was oversubscribed sevenfold. The Seoul collapse coincided with a regional equity selloff triggered by intensifying Gulf fighting, narrowing the margin for company-specific strength when macro risk reprices sharply downward.