Hynix Scraps Solidigm IPO, Single-Handedly Drags Kospi Out Of A 4% Hole And Easing AI Rout

SK Hynix scrapped plans for a potential $10 billion U.S. listing of its Solidigm unit, a move that helped the Kospi reverse early losses. The index fell as much as 4.1% at the open, nearly triggering a market halt, but later closed up 0.30% at 5,550 after the news. Hynix shares, down as much as 4.3% early, surged up to 4.5% as the broader market steadied following a steep selloff in U.S. tech. Regulators raised concerns Solidigm’s IPO could dilute value for minority investors and complicate SK Group ownership. The company also halted talks on a pre-IPO investment citing recent capital market conditions.