SEOUL, July 15 : Shares in SK Hynix jumped more than 11.8 per cent in morning trade in Seoul on Wednesday, tracking overnight gains in U.S. technology stocks after softer-than-expected U.S. inflation data, while also drawing support from Barclays’ initiation of research coverage.
Barclays placed an “overweight” rating and a $330-a-share price target on the company’s newly listed American Depositary Receipts (ADRs), which surged nearly 28 per cent to $193.92 on Nasdaq on Tuesday.
The benchmark KOSPI was trading up 6.9 per cent as of 0023 GMT on Wednesday.
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