SK Hynix shares hit their first-ever daily price limit with a nearly 30% surge, while the U.S.-listed ADR gained after hours.

Perpetual futures on the South Korean chipmaker's American depositary receipts plunged 20% in one minute before quickly rebounding above $1,000.

SK hynix shares hit their daily upper limit Friday, as South Korean chipmakers extended a sharp rebound following a recent market rout. The stock surged 29.95 p