SK Hynix Announces Largest Stock Buyback in South Korean History

SK Hynix announced on Wednesday that it will conduct the largest-ever stock buyback in South Korea. The announcement drove shares higher, even as the chip maker's stock had already increased 470% over the previous year.

This buyback follows a significant share sale to U.S. investors last month. That transaction was the largest share sale by a foreign company and was executed at an effective price 50% higher than current market levels.

In separate financial developments, the United States Department of the Treasury announced plans to buy back more long-term bonds to lower yields. This move coincides with the U.S. national debt exceeding $40 trillion.