SK Hynix sinks after Nasdaq debut amid profit-taking, easing earnings optimism

SEOUL, July 13 : SK Hynix shares dropped as much as 8.2 per cent in early Seoul trade on Monday as investors booked profit, after a high-profile U.S. listing saw the world's leading AI memory chipmaker surge 12.8 per cent in its Nasdaq debut on Friday.The South Korean firm raised over $26 billion selling American Depositary Receipts priced $149 each. The ADRs opened 14 per cent above the offer price at $170 before ending their first trading day with a 12.8 per cent gain.In Seoul on Monday, the benchmark KOSPI was trading down 2.8 per cent as of 0057 GMT.Ryu Young-ho, a senior analyst at NH Investment & Securities, said investors were profit-taking after the conclusion of the U.S. listing, while sentiment also suffered from caution with regards to SK Hynix's second-quarter earnings. He said