A U.S. share sale by South Korean chipmaker SK Hynix has led to dollar-selling in the country’s dollar-won forwards market, sending the won to a more than one-month high, according to a source familiar with the matter.
SK Hynix’s Share Sale
SK Hynix launched a U.S. share sale to raise 43 trillion won ($28.66 billion), drawing indications of interest worth as much as $7 billion from major investors as it rides the AI boom in one of the world’s largest equity offerings.
The won strengthened 1% against the dollar past the 1,500 mark and hit its highest level since May 29 at 1,498.1 per dollar. South Korean Deputy Finance Minister Moon Ji-sung expects the supply-demand dynamics of the dollar-won market to shift in the second half, pointing to won demand from the imminent U.S. share sale by SK Hynix.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
