Only took three days! SK Hynix (SKHY.US) ADR's premium over South Korean domestic stocks has widened to 51%, with top institutions collectively bullish.

According to the Wise Finance APP, SK Hynix (SKHY.US) American Depositary Receipt (ADR) soared over 27% on Tuesday, not only completely recovering from the 9.3% drop caused by the record sell-off in the South Korean stock market spreading to the American market the previous trading day, but also pushing the premium of the stock compared to its listing on the South Korean stock market to 51% just three days after its debut on the American stock market, much higher than the initial 3% offering premium during its IPO last week. Due to restrictions on converting South Korean common stock to American ADR, the market had previously anticipated that the price of SK Hynix ADR would be higher than its corresponding stock price on the Seoul market.