SK Hynix Announces 40 Trillion Share Buyback and Cancellation as KOSPI Surges More Than 6% Intraday, Reversing Previous Day's Losses
The KOSPI surged more than 6% during afternoon trading on 2026-08-20. As of 1:3 p.m., the index stood at 6,871.56, up 6.19% from the previous day. SK Hynix shares gained around 13%, while Samsung Electronics rose around 8%. The sharp rebound in major semiconductor stocks coincided with SK Hynix's plan, announced after the previous day's market close, to acquire and cancel all repurchased shares worth KRW 40,000,000,000,000. However,