SK hynix's blockbuster Wall Street debut quickly delivered a lesson in how fast market swings can travel across the Pacific. The chipmaker's Seoul-listed shares plunged 15 percent on Monday after the initial boost from its U.S. listing faded and investors grew more concerned that the artificial intelligence (AI) boom may be nearing a peak. Its American depositary receipts (ADRs) then fell about 9 percent, narrowing the premium over the Korean shares. The two securities should generally move in the same direction because they represent the same company, analysts said Tuesday. Even when their prices diverge, a widening gap typically attracts arbitrageurs, eventually pulling them back toward each other. "A 15.4 percent KRX [Korea Exchange] decline against a 9 percent ADR decline in the same underlying asset is an arbitrage dislocation, not two different fundamental views," said Mo Aziz, an independent analyst at Smartkarma, an investment intelligence platform. Still, differences in market structure mean the two securities will not trade in lockstep. Part of the gap reflects the structure of
Korea eyes 3% growth in 2026 riding on AI chip boom