SK Hynix's stock price surged nearly 12%, following the rise of the US stock market.

On Wednesday morning, SK Hynix's stock price soared by over 11.8% in early trading on the Seoul stock market, driven both by the overnight rally in US tech stocks following lower-than-expected US inflation data and the first research report issued by Barclays Bank. Barclays gave a "buy" rating to the company's newly listed American Depositary Receipts, with a target price of $330 per share; the stock surged nearly 28% on Tuesday on the Nasdaq market, closing at $193.92. The benchmark KOSPI index in South Korea rose by 6.9%.