Odaily reported that SK Hynix's ADR plunged nearly 10% on its second day of listing, sparking increased activity in related derivatives markets. According to CoinGlass data, the total open interest for SK Hynix (SKHYNIX) futures contracts across all exchanges stands at approximately $696 million, up 8.41% in 24 hours. Binance, OKX, and Bitget rank among the top three by contract open interest, collectively accounting for around 86% of the market share. Specifically:

Binance: Contract open interest increased by 9.45% in 24 hours, totaling approximately $444 million.

OKX: Contract open interest increased by 20.85% in 24 hours, totaling approximately $97.1 million.

Bitget: Contract open interest increased by 23.35% in 24 hours, totaling approximately $57.95 million.

Odaily reported on Tuesday that South Korea's forex market conditions are improving as major chip and shipbuilding companies begin selling large amounts of dollars in the forward market. "Based on strong fundamentals such as record trade surpluses, the foreign exchange market is expected to see structural changes in supply and demand conditions in the second half of the year," the ministry said in a statement. On Tuesday, the won strengthened 0.75% against the dollar to 1,486.30, its highest level since May 12. (Jin10)

Odaily reports, according to Gate data, SK Hynix (Korean stock) currently rises over 3%, while SK Hynix ADR (SKHY.O) gains over 6% in after-hours trading.

Odaily SK Hynix has begun procuring advanced DRAM manufacturing equipment for its Y1 fab in Yongin, South Korea, with an initial planned capacity of approximately 20,000 wafers per month. SK Hynix plans to advance the start of Y1 Phase 1 from its original schedule of May next year to February next year. The company will initiate the construction of a pilot production line in February, followed by large-scale equipment installation in March and April. The fab is targeting the production of sixth-generation 10-nanometer class 1c DRAM, which will be used for AI server-related DDR and LPDDR products, and is also planned for application in next-generation HBM4E. (ZDNET Korea)

According to Gate data, the Korea KOSPI Index has turned positive after previously falling over 5%. SK Hynix is now up 0.21%, after previously dropping over 8%.

Odaily Planet Daily News: The South Korean government on Tuesday raised its economic growth forecast for 2026 to 3%, one percentage point higher than its previous estimate, citing a "super cycle" in the semiconductor industry and reduced uncertainties related to the Middle East situation. The Ministry of Economy and Finance released its economic policy plan for the second half of 2026, with a growth projection higher than the 2.6% estimates previously provided by the International Monetary Fund, the Organisation for Economic Co-operation and Development, and the Asian Development Bank.

First Vice Minister of Economy and Finance Lee Hyoung-il said, "I believe other institutions' forecasts were based on data from March and April, while our assessment is based on the latest data, where a major change includes robust export growth driven by the semiconductor industry boom. Additionally, the situation in the Middle East has further eased since then." (Jin Shi)

Odaily reported that Morningstar equity analyst Jing Jie Yu stated the firm maintains its fair value estimate for SK Hynix's American Depositary Receipts (ADRs) at $160. After assessing long-term cyclical risks, the valuation is considered reasonable. SK Hynix plans to use the 40 trillion Korean won raised from this listing for future wafer fabrication investments. However, the analyst noted that the primary purpose of this listing is to enhance valuation rather than address urgent financing needs. The valuation multiples of South Korean memory chip companies have historically been lower than their US counterparts, and SK Hynix's existing cash reserves are expected to be sufficient to meet its investment needs.

Morningstar estimates SK Hynix's EBITDA for 2026 and 2027 will reach 317 trillion Korean won and 474 trillion Korean won, respectively, far exceeding the size of this fundraising. Therefore, the actual contribution of this financing to capacity investment is quite limited and carries more symbolic meaning, although the use of funds remains reasonable.

Looking ahead, Morningstar believes the earnings trends for memory chip manufacturers are highly unpredictable. SK Hynix ADRs and its South Korea-listed shares may continue to experience significant volatility. Consequently, the firm maintains its "Very High Uncertainty" rating for the company. (Jinshi Data)

Odaily reported that economists expect the Bank of Korea (BOK) to implement its first interest rate hike in over three years on Thursday, with another increase expected before the end of the year. South Korea's inflation rate rose to 3.2% in June, hitting a two-and-a-half-year high and exceeding the BOK's 2% target for the fourth consecutive month. The average inflation rate for the second half of the year is expected to be around 3%, paving the way for the start of a tightening cycle. Strong economic growth, rising housing prices, and high household debt provide policymakers with room to tighten policy. South Korea's economy grew at its fastest pace in nearly six years in the first quarter. BOK Governor Rhee Chang-yong stated that, given the high oil prices triggered by the Middle East conflict, inflation is expected to exceed the central bank's target for a considerable period, making a rate hike necessary.

In a survey conducted from July 7 to 13, all but one of 37 economists predicted that the BOK would raise its benchmark interest rate to 2.75% on July 16. The majority of surveyed economists (28 out of 31) expect one more rate hike by the end of the fourth quarter, bringing the policy rate to 3.00%. One economist predicted the benchmark rate would reach 3.25%, while the remaining two forecast it would stay at 2.75%. The median forecast indicates that the BOK will raise the benchmark rate to 3.25% in the first quarter of 2027 and maintain that level at least until the end of next year, representing an increase of 25 basis points compared to the forecasts in the May survey. (Jin Shi)