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Jeffrey Neal Johnson

SK hynix Triggers $28B Defense Against Tech Selloff

SK Hynix SK Memory Wall Street Semiconductor

Global tech markets recently saw a sharp macro-driven selloff that tripped circuit breakers across Asian indices and sent many investors scrambling for safe harbors.

Amid the turbulence, SK hynix Inc. (NASDAQ: SKHY) decided to flex its balance sheet rather than passively weather the storm. The company authorized an unprecedented 40 trillion won share repurchase and cancellation program, equivalent to approximately $28.6 billion.

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