Chinese memory chip shares jump as SK Hynix prepares for U.S. listing

(ECNS) -- Chinese memory chip stocks rallied on Monday, fueled by strong market optimism surrounding the upcoming U.S. listing of South Korean chipmaker SK Hynix and sustained growth in the global semiconductor market.

Investor sentiment was boosted by SK Hynix's planned Nasdaq debut on Friday. According to Bloomberg, the company is expected to raise about $29 billion through American Depositary Receipts (ADRs) under the ticker "SKHY," in what could become the largest-ever U.S. initial public offering by a foreign company.

The listing is intended to narrow the valuation gap with U.S. rival Micron Technology.

The rally also reflects growing confidence in the memory chip industry. According to market research firm Gartner, global semiconductor sales are projected to approach 9 trillion yuan ($1.32 trillion) in 2026, up 64% from a year earlier, with memory chips expected to account for around 4.3 trillion yuan of the total market.

(By Kira)