🟢 SK Hynix is trading 5.5% up today after its $28.6 billion buyback and cancellation plan

SK Hynix is trading 5.5% up at €1040 after its August 19 announcement of a KRW 40 trillion ($28.6 billion) buyback.

• The program began August 20 and will run through November 19, covering about 3.3% of outstanding shares.
• All repurchased shares will subsequently be cancelled, directly strengthening shareholder returns and investor sentiment.
• Reuters and Bloomberg identified the plan as the key catalyst for the rebound.