[New York Stock Exchange] All Major Indexes Close Higher Despite Middle East Tensions... SK hynix Up 13.08%

SK hynix Makes a Successful Nasdaq Debut
US and Iran Remain in Hardline Standoff
Dialogue Remains Possible Amid Military Pressure

On the 10th (local time), all three major U.S. stock indexes closed higher, buoyed by strength in technology stocks despite ongoing tensions in the Middle East. SK hynix, which debuted on the Nasdaq that day, ended trading at $168.49, up 13.08% from its offering price.

At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average finished at 52,637.01, up 149.60 points (0.29%) from the previous session. The large-cap S&P 500 index rose 31.75 points (0.42%) to 7,575.39, while the tech-heavy Nasdaq index concluded at 26,281.60, up 74.71 points (0.29%).

New York Stock Exchange. New York, USA — Special Correspondent Hwang Yoonju

The market ended the week on an uptrend, supported by the effect of SK hynix's Nasdaq listing and the strong performance of select technology stocks. Notable gainers included SK hynix with a 13.08% rise, NVIDIA up 4.03%, SanDisk up 3.10%, and ADM up 2.04%. In contrast, Intel fell 2.40%, Qualcomm dropped 1.02%, and Micron declined 1.24%.

Meta saw a sharp increase of 5.97% compared to the previous session and is expected to post its best weekly gain since early 2024. This is interpreted as being influenced by Bank of America's decision to maintain a "buy" rating on Meta, citing foreign media reports suggesting that Meta may be improving its artificial intelligence (AI) cost structure.

One of the main focuses in the market was SK hynix's Nasdaq listing. On this day, SK hynix opened at $170, about 17% higher than its offering price of $149. The price surpassed $175 during intraday trading, but with a slight weakening in late buying, it ultimately finished up by around 13%.

Some investors are reportedly concerned that this new listing could intensify competition for investment capital with U.S. memory companies such as Micron. Eric Parnell, Chief Market Strategist at Great Valley Advisor Group, said, "There has been excessive optimism about the AI boom since the summer of 2023," adding, "While we are clearly in a boom period now, I am genuinely concerned about the possibility of a downturn in the second half of the year."

However, Chey Tae-won, Chairman of SK Group, expressed confidence contrary to market concerns, stating, "Structural changes brought about by AI have already occurred," and "While the semiconductor cycle will not disappear completely, there is currently an enormous gap between supply and demand."

Amid the tailwind for technology stocks, tensions in the Middle East had little impact. On this day, the United States and Iran maintained a hardline standoff. President Donald Trump stated on Truth Social, "The Islamic Republic of Iran asked us to continue 'dialogue,'" adding, "We agreed, but the United States firmly told Iran that the ceasefire has ended." While keeping the possibility of dialogue open, the U.S. left the door open for military pressure.

Iran also expressed its determination to respond firmly. Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament and chief negotiator for the ceasefire, stated, "Ending the war is clearly the top priority, but this conflict will never end with Iran's surrender."

This content was produced with the assistance of AI translation services.