TradingKey – Following Samsung Electronics, SK Hynix accelerates its ADR process, boosting its stock price and sparking an afternoon V-shaped recovery for the KOSPI index.

During the Asian trading session on June 24, stimulated by the positive news of “accelerating the issuance of $26 billion in ADRs in the U.S.,” South Korean memory chipmaker SK Hynix’s stock price staged a retaliatory rebound in the afternoon, keeping its share price above 2.6 million KRW, up 2.94%.

SK Hynix stock price chart, Source: TradingView

According to the latest report by The Korea Economic Daily, SK Hynix plans to formally submit filings to South Korean financial regulators to accelerate its plan to issue American Depositary Receipts (ADRs) in the U.S., which is…