$SK hynix(SKHY)$
Citi analyst Peter Lee said the buyback could provide a meaningful floor for the stock and offer near-term downside protection, while also signaling SK Hynix's confidence in its medium- to long-term growth prospects despite current headwinds in the memory-chip market.
The announcement follows SK Hynix's decision earlier this month to invest 54 trillion won in new memory-chip manufacturing facilities, as demand for components used in AI systems continues to grow. The company's aggressive capital investment highlights its expectations for sustained AI-related demand.
The news also lifted other Asian technology stocks as markets recovered from the previous session's losses.
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