Holy—Korean stocks are getting crushed!


KOSPI plunges nearly 9%, SK hynix is down more than 15% intraday, and the exchange has triggered a trading halt again!
The main pressure comes from profit-taking after the U.S. ADRs jumped 13% last Friday.
Korea Investment & Securities’ latest forecast says SK hynix’s second-quarter operating profit could be about 8% lower than market expectations. The core reason is that the HBM revenue share is too high, dragging down the overall ASP upside.
But with the selloff this brutal, if you enter now to go long and bet on a rebound, you probably won’t get buried, right?
Fundamentals haven’t actually broken down—it's just that the surge momentum from the previous run-up is being digested all at once.
Next, there will likely be more profit-taking and arbitrage position unwinds. The candlestick chart is prone to show long upper wicks, and in the near term, further range-bound consolidation and position-flushing is the main theme.
#SK hynix
SK Hynix-15.36%
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