SK Hynix $28.7B buyback lifts Seoul stocks

SK Hynix unveiled a record 40 trillion won ($28.7 billion) share buyback and cancellation plan, sending its stock soaring and driving the Kospi to a near 6% gain.

The announcement is part of a broader push by South Korean chipmakers to enhance shareholder returns amid the AI-driven memory boom.

Samsung Electronics is also reportedly preparing a similar programme worth over $72 billion.

The rally was further supported by easing US Treasury yields after the Federal Reserve's intervention.