TradingKey – SK Hynix clarifies Chongqing plant disposition remains undecided; ADR price edges lower pre-market.

On July 10, Eastern Time, SK Hynix ( SKHY) issued an announcement responding to market rumors regarding the “sale of its Chongqing plant in China,” stating that “the company is exploring various options to enhance the competitiveness of its packaging business, but no specific matters have been determined as of yet.” In today’s pre-market trading, SK Hynix’s share price fell 0.3%, temporarily trading at $137.49.

SK Hynix stock price chart, Source: TradingView

Previously, rumors were rife in the market that SK Hynix would sell its factory in Chongqing, China, for 4.2 trillion won (approximately $3.0 billion), with various disposition…