📊 SK hynix: Intraday swings and Nomura’s outlook pointed in different directions - 2026.10.20

Hi, it’s Goguma. Let’s calmly sort through today’s developments too 🍠 There’s plenty to discuss after SK hynix fell 5% intraday and the market took a tangled turn ^[6]. The previous day’s closing price of ₩1,304,000 came down to ₩1,216,000 at today’s close (-4.78%). Let’s look at what’s behind those numbers.

🍠 Intraday moves: overseas markets rose, but Korea was different

The KOSPI opened down 0.6% at 5,733, and SK hynix fell 5% intraday ^[6]. The most striking thing was that South Korea’s leading chipmaker weakened even though tech stocks and semiconductor shares rose overnight in New York. Institutions and foreign investors reportedly sold, while only individual investors bought ^[6]. The Korea Economic Daily also looked at why SK hynix fell on a day SKHY rose 4.67% ^[1]. Why did they move in opposite directions on the same day? That’s the first question today.

⚖️ Nomura’s outlook: focus on the direction

Maeil Business Newspaper reported that Nomura set a target price for SK hynix ^[2]. The headline includes a big number, but since this figure comes from a single report, I’ll leave it out here and convey only the direction. This is an outlook from the securities firm Nomura, not a plan announced by the company. Whatever the forecast, how it lines up with the current share price is another matter. So I think bullish and bearish scenarios can coexist.

🤝 Money and the ecosystem: developments moving alongside the company

The government and SK hynix signed an agreement with the Korea Trade Insurance Corporation and four major banks to launch the “Export Supply Chain Strengthening Guarantee” ^[3]. Guarantees worth 2,000,000,000,000 KRW will go to materials, parts, and equipment suppliers, along with loan-limit and interest-rate benefits. It seems apt to say this will give companies supporting the roots of the semiconductor industry some room to breathe. Separately, reports said SK hynix made large purchases of financial debentures on the 20th, while attention is also turning to whether it will invest in government bonds ^[4]. The company had previously said it was positively considering government bond investments; its current position is that it will make a comprehensive assessment of market conditions and other factors ^[4]. There’s also news from the exchange. NXT was reported to be introducing a plan for independent price formation in the premarket to prevent a lower-limit price caused by a single-share trade just after the premarket opened on July 28 from being reflected in overseas derivatives pricing and resulting in losses ^[5].

🎯 Goguma’s takeaways and the questions that remain

Here’s how I’d sum up the four perspectives. These materials alone don’t bring the four views together on one side. Bullish and bearish scenarios are both present, and I don’t think we should force them into a single view. My final take is to first watch how Nomura’s outlook lines up with actual buying and selling, and what market conditions will shape the decision on government bond investments, rather than focus on the share price’s direction. Which variable looks more significant to you? 🤔

📰 Reference News (5)

1

SKHY Rose 4.67%, but Why Is SK hynix Down 6%? - The Korea Economic Daily

한국경제 · 2026.10.20

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3

Government and Hynix to Provide 2 Trillion in “Win-Win Financing” for Materials, Parts, and Equipment Suppliers

네이버뉴스 · 2026.10.20

📰 View original

4

[SK hynix Returns] When Will It Invest in Government Bonds? “Comprehensive Assessment of Market Conditions and Other Factors”

네이버뉴스 · 2026.10.20

📰 View original

5

[Exclusive] Preventing a “Single-Share Trade at the Lower Limit”… NXT to Set Independent Premarket Opening Prices

네이버뉴스 · 2026.10.20

📰 View original

📺 Reference Videos (1)

6

YouTube

KOSPI Opens Lower... SK hynix Plunges 5% Intraday / YTN

▶ YTN·2026.10.20