From The Economic Times · Anupam Nagar · · 1m 10s
South Korean Shares Surge 6% on AI Chip Rally
SK Hynix earnings boost South Korean stocks 6% amid AI chip demand.
In brief
SK Hynix earnings boost South Korean stocks 6% amid AI chip demand. South Korean shares rose 6% after SK Hynix reported stronger-than-expected quarterly earnings and AI chip demand growth. Originally reported by The Economic Times.
South Korean Shares Surge
South Korean shares surged nearly 6% on Wednesday, led by chipmakers SK Hynix and Samsung Electronics.
SK Hynix Earnings Report
SK Hynix reported a more than seven-fold increase in quarterly profit and plans to return $75 billion to shareholders.
KOSPI Index Rise
The benchmark KOSPI rose 337.64 points, or 5.99%, to 5,975.98 as of 0140 GMT.
AI Chip Demand Growth
SK Hynix forecasted robust demand for memory chips supported by AI infrastructure investment.
Samsung Electronics Gain
Samsung Electronics advanced 8.90%, helping lift the broader market after AI-driven semiconductor boom.
Market Breadth Positive
620 stocks advanced and 257 declined among 913 issues traded, with foreign investors net buyers of 589.1 billion won.
South Korean Won Weakens
The South Korean won weakened to 1,335.7 per dollar on the onshore settlement platform, down 0.64%.
The essence
South Korean shares rose 6% after SK Hynix reported stronger-than-expected quarterly earnings and AI chip demand growth.
