SK Hynix Rebounds 3.2% as US Yield Relief and Dalian Export Approval Steady the Chipmaker

South Korean technology shares found their footing on Friday, lifted by retreating US bond yields after a bruising stretch of macroeconomic anxiety across Asian trading floors. SK Hynix led the charge, climbing 3.2% to close at 1,303,000.00 KRW, a recovery that offered market participants a welcome breather following days of heavy selling in the semiconductor space.

The rebound marks a sharp turn from Thursday's session, when the memory chipmaker bore the brunt of a sector-wide rout that sent its shares down roughly 11%. The selloff had been triggered by a combination of hotter-than-expected US inflation readings and mounting concerns over the financing health of heavily indebted data-center infrastructure providers. Adding to the unease were reports of technological strides by Chinese rival CXMT in DRAM memory.

Analysts Push Back Against the Pessimism

Several industry watchers now view that plunge as a fundamental overreaction. Goldman Sachs argues the pullback has created an attractive risk-reward setup for SK Hynix, emphasizing that the market is overstating the ability of Chinese competitors to close the technology gap in advanced DRAM and High Bandwidth Memory. In HBM — the high-performance memory stacked into AI accelerators — the company remains an indispensable supplier to leading platforms.

Domestic analysts share that assessment. Han Dong-hee of SK Securities sees the current valuation as an opportunity for investors, and other South Korean houses echo the view that the selloff ignores solid business prospects. Tight supply capacity and the resulting price increases for HBM memory are expected to remain the key driver of earnings growth through 2027. While higher component prices will weigh on the budgets of cloud providers and server manufacturers over the medium term, they simultaneously lock in strong margins for the leading memory producer.

Washington's Export Pen Looms Over Dalian Plans

On the corporate front, regulatory approvals took center stage this week. Reuters reported on Wednesday that SK Hynix is seeking US government permission to ship additional American-made chipmaking equipment to its facility in Dalian, China — a request tied to plans for a new fab on US soil. The company stressed that installation of the equipment in the so-called Module B at Dalian is proceeding in close coordination with, and subject to approval from, US authorities, and made clear the move does not amount to an expansion of existing production capacity.

SK Securities reaffirmed its "Buy" rating on Tuesday with a price target of 4 million KRW. The brokerage projects an operating profit of 79 trillion KRW for the third quarter of 2026, roughly 7% above the average market consensus — a forecast that underscores confidence in the memory maker's earnings power.

HBM4 Equipment Timing in Question

Market observers are also training their attention on the execution of future product generations and the stability of associated supply chains. Media reports suggest that certain HBM4 back-end equipment deliveries, originally slated for the second half of 2026, could slip into 2027. SK Hynix declined to comment on those reports, which did not specify the volume of equipment affected.

Closer to home, investors are watching for the expiration of the company's existing share buyback program and any new guidelines on future shareholder returns, both of which could shape the stock's trajectory in the months ahead.