Short-Selling of SK Hynix Stock Halted After Convertible Sale

The South Korean stock exchange has halted short-selling in shares of SK Hynix Inc. for one day after the memory-chip maker’s upsized convertible-bond issue caused a spike in bearish bets.

More than 10 million shares of the company, worth a total of about $840 million, were sold short Tuesday. The shares slid 3.1% Tuesday on the plan to sell $1.7 billion in convertibles, an amount higher than the initial target and one that made it the largest such deal in Asia so far this year. The stock was little changed Wednesday.

READ: Korea Joins Convertibles Frenzy With Asia’s Largest Sale ...