SK hynix (NasdaqGS:SKHY) moved back into focus after its US flash-memory arm, Solidigm, picked Goldman Sachs and Morgan Stanley to lead a planned IPO that could raise about US$10b and value the unit near US$100b.

SK hynix has been caught in the crosscurrent of IPO excitement and broader chip sector nerves, with the 1 day share price return falling 4.35% to leave the stock at US$170.50 and the 7 day share price return down 11.89% as investors position ahead of October earnings and digest the Solidigm news. Even so, the 90 day share price return of 1.48% suggests momentum has cooled rather than collapsed, and this hints that recent weakness reflects a reset in risk appetite more than a clear shift in the longer term…