[Double Long on SK Hynix Retraces 76% from Previous High] According to a report by Jinse Finance, on July 17, the Southbound Double Long on SK Hynix in the Hong Kong stock market closed down 20.68% at HKD 44.8, marking a new low since April 24. It has retraced 76% from its all-time high of HKD 193.65 set on June 25, plummeting 76% in just 15 trading days. In the South Korean market, SK Hynix's underlying stock has also retraced 38% from its previous high. At a forum hosted by the Korea Chamber of Commerce and Industry today, SK Group Chairman Chey Tae-won stated: 'The demand for memory chips is growing exponentially, which is why the stock prices of SK Hynix and Samsung Electronics have surged rapidly since last year.' When asked about the recent decline in SK Hynix's stock price, he commented that stock prices typically rise with market expectations and then undergo corrections after an overbought phase. 'I believe the demand for memory chips will persist, so over time, the stock price trend will show an upward trajectory.'