SK Hynix plunged as much as 30% in pre-market trading on Nextrade.

SK Hynix hit a 30% decline limit at the opening of pre-market trading on Nextrade Thursday. According to Nextrade data, at 8 a.m. local time, 11 shares changed hands at 1.168 million won apiece. The chipmaker’s stock later recouped most of its losses, finishing pre-market trading down roughly 2%. Nextrade, an alternative trading system (ATS) operated in South Korea separate from the Korea Exchange (KRX), is also referred to as NXT. NXT adopts a continuous auction mechanism for pre-market trading: orders are executed immediately if the bid price exceeds the ask price. It remains subject to South Korea’s stock price fluctuation limits, with upper and lower bounds still based on the previous trading day’s KRX closing price, set at a range of approximately 30%.