US semiconductor shares surge across the board; SK hynix ADR up 10%, Micron up 12%

Semiconductor shares surged across the board on the New York Stock Exchange, staging a strong rebound.

The Philadelphia Semiconductor Index jumped 5.66% during trading Wednesday (local time). Memory chipmaker Micron Technology soared about 12%, while SK hynix's American depositary receipts rose more than 10%.

The broad-based rebound was driven by bargain hunters moving in after a recent sharp selloff in semiconductor shares.