SK Hynix: Several funds, including Baillie Gibbs, have expressed interest in purchasing up to $7 billion in ADRs.
Related
SK Hynix's roadshow presentation slides revealed: The motivation for listing stems from a dual pursuit of valuation reassessment and capital expansion.
According to Odaily Odaily, SK Hynix's US IPO roadshow presentation slides have been leaked. It is reported that Baillie Gifford Overseas Limited, Coatue Management, and Situational Awareness Partners have individually (but not jointly) expressed their intention to subscribe for American Depositary Shares (ADSs) in this offering, with a total value of up to US$7 billion, at the initial public offering price. According to disclosed information, SK Hynix's IPO is driven by a dual motivation: valuation reassessment and capital expansion. It has long faced a valuation discount, currently trading at a forward 12-month price-to-earnings ratio of 6.2, lower than Micron Technology's 7. Measured by forward price-to-sales ratio, its 3.6 is also lower than Micron's 4.6. The fundamental reason for this valuation gap lies in the obstacles faced by US investors in directly investing in Korean stocks. Furthermore, the funds raised will be invested in expanding domestic production capacity in South Korea, including 45.5 trillion won in capital expenditure and 11.9 trillion won in EUV lithography machine procurement. (leinews)
New A-share trading rules will officially take effect on July 6, involving several core adjustments including the expansion of after-hours fixed-price trading.
PANews reported on July 5th that, according to Sina Finance, the revised A-share trading rules simultaneously issued by the Shanghai, Shenzhen, and Beijing stock exchanges will officially take effect on July 6th, 2026, covering several optimizations to the trading mechanism. The core adjustments made by the three exchanges according to the revised trading rules are as follows: 1. Shanghai Stock Exchange's key revisions: First, the scope of securities applicable to after-hours fixed-price trading has been expanded from STAR Market stocks to all A-shares and exchange-traded funds (ETFs); second, the trading method for funds at the closing stage has been changed from continuous bidding to closing call auction, with the closing price generated through the call auction; third, the price fluctuation limit for main board risk-alert stocks has been adjusted from 5% to 10%. In addition, adaptive revisions have been made based on rule changes and business needs, including optimizing disciplinary provisions and improving the wording of some rules.
OUSD claims that over 140 companies participated, but several South Korean companies, including Samsung Electronics, stated that they had not formally negotiated with the issuer.
BlockBeats reported on July 3 that Open Standard, a global stablecoin consortium, recently announced the launch of its USD stablecoin, OpenUSD (OUSD), with over 140 global financial and payment companies, including Visa, Mastercard, BlackRock, Samsung Electronics, and Dunamu, participating. The token is planned for launch within the year. However, several South Korean companies stated that they have not had formal negotiations with the OUSD issuer. A Samsung Electronics representative stated, "There have been no formal negotiations, and we don't know what role we will play in the consortium." Shinhan Financial Group, Dunamu, and K Bank also stated that Open Standard inquired about their interest in participating, and the companies only responded that they could conduct a simple evaluation, but their names were subsequently added to the consortium's member list. One company representative stated that they only learned of their company's inclusion in the OUSD consortium through the news, and "they only gave a perfunctory reply to Open Standard's inquiry about their participation, saying they would consider it if things went smoothly," adding that they were confused about being included on the member list. OUSD adopts an open infrastructure model, aiming to be jointly operated by companies that actually provide payment, remittance, and settlement services. According to the introduction, participating companies can mint 1 OUSD after depositing $1 into the Open Standard reserve account; after returning 1 OUSD, they can redeem $1 from the reserve account. OUSD alliance participants can mint and redeem OUSD without fees or restrictions, and the plan is to distribute the proceeds from reserve utilization to network participants after deducting a small management fee. (ChosunBiz)
US tech stocks continue to attract funds, with Gate.com, SanDisk, and SpaceX leading in contract trading and open interest.
According to ChainCatcher, US technology and aerospace sectors have regained favor with mainstream funds, with several highly watched stocks leading the derivatives market. According to Gate platform data, SanDisk (SNDK) is currently trading at $2221.02, up 6.55% in the last 24 hours; SpaceX (SPCX) is currently trading at $170.97, up 4.74% in the last 24 hours. According to CoinGlass data, Gate's SNDK contract open interest reached $13.7853 million, with a 24-hour contract trading volume of $42.5479 million; Gate's SPCX contract open interest reached $26.5112 million, with a 24-hour contract trading volume of $34.4757 million, both ranking among the top in the network.
CRCL has been removed from several Russell growth indices, including the Russell 1000 and Russell 3000.
According to Odaily Odaily, in the latest round of annual reconstitution, Circle (CRCL) has been removed from several major Russell growth indexes. This adjustment involves five important Russell growth indices, including the Russell 1000 and Russell 3000, which are important benchmarks for many institutional investors and passive funds. According to US stock market data, CRCL closed down $17.55 yesterday, currently trading at $62.63.
South Korean semiconductor stocks saw a pullback, but Gate SKHYNIX futures contracts remained among the top open interest in the sector.
According to ChainCatcher, Gate, the only platform exclusively supporting Korean stock trading, continues to enrich its global equity asset portfolio. Recently, the Korean semiconductor sector has experienced increased volatility, but market trading activity remains high. According to the latest data from the Gate platform, semiconductor leader SK Hynix reached a high of $1654.1 and a low of $1509.9 during today's trading session, currently trading at $1543.1, a daily decrease of 5.03%. According to CoinGlass data, Gate's SK Hynix (SKHYNIX) contract open interest exceeds $24.5448 million, ranking among the top in the industry.