# SK hynix Shares Drop 10% in Seoul as Chinese Competitor YMTC Files for IPO

- URL: https://stocks.freetheai.org/news/sk-hynix-shares-drop-10-in-seoul-as-chinese-competitor-ymtc-files-for-ipo-9ab287
- Published: 2026-10-13T12:25:51Z
- Category: company_news; sentiment: bearish; impact: high
- Symbols: [KRX:000660](https://stocks.freetheai.org/symbols/KRX-000660), [NASDAQ:SKHY](https://stocks.freetheai.org/symbols/NASDAQ-SKHY), [OTC:SSNLF](https://stocks.freetheai.org/symbols/OTC-SSNLF), [NASDAQ:MU](https://stocks.freetheai.org/symbols/NASDAQ-MU), [NASDAQ:SNDK](https://stocks.freetheai.org/symbols/NASDAQ-SNDK), [NASDAQ:SMH](https://stocks.freetheai.org/symbols/NASDAQ-SMH)
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SK hynix Inc. (KRX:000660) shares dropped 10.09% in Seoul on Tuesday to 1,443,000 won, marking a fifth consecutive daily decline. The stock has fallen 21.6% over five trading sessions and closed below its 200-day moving average for the first time since May 2025. The sharp fall represents the eighth single-day drop of at least 10% for the company in 2026, the most in a single year since 2008. Other industry peers also retreated, including Samsung Electronics Co., Ltd. (OTC:SSNLF), Micron Technology, Inc. (NASDAQ:MU), and Sandisk Corporation (NASDAQ:SNDK).

The slide coincides with an initial public offering filing on Shanghai's STAR Market by Chinese chipmaker Yangtze Memory Technologies Co., or YMTC. YMTC reached the third spot in global NAND memory shipments during the second quarter, ranking behind Samsung Electronics Co., Ltd. and SK hynix Inc. YMTC utilizes an architecture called Xtacking, which bonds logic and memory wafers separately. This method allows the company to build multi-layer chips with non-cutting-edge equipment despite U.S. trade sanctions.

Key factors to monitor include YMTC's ability to win orders from international customers outside China, the upcoming valuation terms for its public listing, and the progress of pending U.S. legislation targeting equipment suppliers to Chinese memory producers.

## Key points

- SK hynix Inc. fell 10.09% in Seoul to 1,443,000 won, its fifth straight daily drop.
- The stock closed below its 200-day moving average for the first time since May 2025.
- Chinese competitor Yangtze Memory Technologies Co. filed for an IPO on Shanghai's STAR Market.
- YMTC rose to third place in global NAND shipment volume during the second quarter.

## Questions and answers

### Why did SK hynix stock drop sharply?

SK hynix shares fell following an IPO filing on Shanghai's STAR Market by Chinese competitor YMTC, which has grown to become the third-largest global NAND memory supplier.

### What is YMTC's global ranking in memory chips?

YMTC reached third place globally in NAND memory shipment volume in the second quarter, placing behind Samsung Electronics and SK hynix.

### How far is SK hynix stock below its peak?

SK hynix shares sit 50.6% below their record high set on June 22, despite remaining up 121.7% for the year.