Everyone, don’t panic. No one on Twitter has clearly explained the impact of SK Hynix’s U.S. IPO: Before the listing on July 10, it’s bearish, but after the listing, it’s the main upward trend window. Before the listing, there’s an expectation of increased supply + a large-scale issuance ($28 billion). Foreign investors are reducing their holdings in Korean stocks in advance to participate in the U.S. IPO for the ADR. This is the reason behind the recent continuous weakness in Korean stocks. After the listing, it will officially be included in the Nasdaq 100, triggering passive funds to enter. The valuation will rise from 6x PE to 8~9x.