SK Hynix, the South Korean memory-chip maker at the centre of the global AI memory supercycle, began trading on the Nasdaq in July after raising $26.5 billion — the largest share sale ever completed in the United States by a foreign company. Shares opened 14 per cent above their offering price.
In a commentary for Barron’s, Cascade Institute fellow Christopher Collins argues that the listing binds the Korean stock market and American portfolios more tightly together, so that volatility on the KOSPI will no longer stay local.
Collins is a fellow with the Polycrisis Program at the Cascade Institute, and writes regularly on financial markets and systemic risk for Barron’s, The Globe and Mail, and other publications.
