My friend asked if SK Hynix's premium will eventually narrow. I helped him out—TSMC's ADR on the U.S. stock market has long had a 5% to 20% premium, you know what I mean. Both Taiwan and South Korean stock markets are regulated, unlike Chinese concept stocks and Hong Kong stocks that are dual-listed. Since Hong Kong is a free market, the premium gets balanced quickly. For South Korea, narrowing the premium would rely on leadership issuing more shares. But then again, with the premium reaching 40% today, you’ve got to trust the gambling nature of Koreans (and the Chinese buying $7709). As long as they believe the price will drop or that the U.S. stock market sets the benchmark price, when the market opens tomorrow, if they buy to narrow the gap, wouldn’t it just narrow? Benchmark price aiming at $8848—if you know, you know.