The CSOP SK Hynix Daily (2x) Leveraged Product (07709) surged 8.40% intraday, reflecting strong bullish sentiment towards the underlying storage chip giant SK Hynix.
The rally is driven by multiple positive developments. SK Hynix plans to list in the United States via American Depositary Receipts as early as August, with the SEC expected to approve the application during the week of June 22, potentially raising up to $14 billion. This move is anticipated to enhance the company's global visibility and access to capital.
Furthermore, the company recently announced a multi-year technology partnership with NVIDIA, adding to the bullish momentum. SK Hynix's shares in Korea have also seen significant gains amid a global semiconductor rally, and the company has surpassed a $1 trillion market capitalization, becoming Asia's third company to reach that milestone. Positive industry dynamics, including favorable pricing for HBM chips and a projected tightening of overall memory supply from 2027 due to NVIDIA's next-generation Vera Rubin platform, are contributing to the optimistic outlook.