Samsung, SK Hynix Surge Over 8% Intraday, Kioxia Jumps Over 12% as SK Hynix Record Results Boost Memory Chip Sector
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On October 28, South Korean semiconductor stocks surged, driven by SK Hynix’s record third-quarter results and a massive shareholder return plan. SK Hynix reported an operating profit of 83.3 trillion won, beating estimates, alongside a 328% revenue increase fueled by robust AI infrastructure and HBM demand. The company announced a 100 trillion won shareholder return plan and long-term supply agreements spanning through 2028. This rally pushed the KOSPI Index up over 5%, triggering a circuit breaker, while Japanese peer Kioxia also rallied. Investors now await Samsung Electronics' full earnings report on October 29.
TradingKey - On October 28, South Korean semiconductor stocks surged during intraday trading, with Samsung Electronics and SK Hynix leading the South Korean market higher. SK Hynix's latest third-quarter results set a record high, while the company also announced a large-scale shareholder return plan, further boosting the performance of the memory chip sector.
As of press time, SK Hynix was up about 8.2% at 1.451 million won (approx. $1,086.3), while Samsung Electronics rose 8.1% to 240,000 won. South Korea's KOSPI Index intraday gain once surpassed 5%, topping 5,900 points, and triggered a buy-side circuit breaker as KOSPI 200 futures gained over 5%. Meanwhile, in the Japanese market, Kioxia rallied in tandem, jumping over 12% intraday at one point to 14,185 yen (approx. $89.8).
SK Hynix daily stock price chart, Source: TradingView
According to SK Hynix's third-quarter financial report released that day, operating profit reached 83.3 trillion won, surging over sevenfold year-over-year and beating market expectations of around 76.7 trillion won; quarterly revenue jumped 328% year-over-year to 104.6 trillion won, with both figures setting new records. The company stated that AI infrastructure investments continue to drive demand for DRAM and high-bandwidth memory (HBM), with current orders for related products already covering multiple years ahead.
Meanwhile, SK Hynix announced a shareholder return plan worth approximately 100 trillion won, including cash dividends as well as share repurchases and cancellations. The company also stated that it has signed long-term supply agreements with 14 major customers, with current locked-in order volumes accounting for over 50% of its total capacity from 2027 through 2028.
Notably, Samsung Electronics will release its full third-quarter earnings report on October 29. Investors should focus on the profitability of its memory business, progress on HBM products, and customer qualification status for advanced memory products.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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