Global Market: South Korean shares surge 6% as SK Hynix earnings fuel AI chip
Benchmarks Nifty22,513.85-235.91FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.23 % Invest NowFEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.47 % Invest NowEnter search…
South Korean shares surged nearly 6% on Wednesday, driven by SK Hynix and Samsung Electronics following strong earnings and optimism over AI-driven memory chip demand. SK Hynix reported a seven-fold profit increase, while foreign investors bought shares worth $444 million. The rally reflected broader global enthusiasm for artificial intelligence investments.
South Korean shares surged nearly 6% on Wednesday, led by chipmakers SK Hynix and Samsung Electronics, after stronger-than-expected quarterly earnings from SK Hynix reinforced optimism over sustained demand for memory chips amid the artificial intelligence boom, according to a report by Reuters.The benchmark KOSPI rose 337.64 points, or 5.99%, to 5,975.98 as of 0140 GMT. If the gains hold, the index would record its biggest single-day percentage rise since July 31, as per the report.
As on 28 Oct 2026, 01:30 AM IST
S&P 500 Top Gainers
Pentair62.29(12.80%)Dell Technologies501.96(7.47%)Super Micro Computer35.09(7.34%)Western Digital380.88(6.95%)S&P 500 Top Losers
Xylem92.86(-14.21%)Boeing168.18(-10.69%)Valero Energy387.34(-9.24%)Coterra Energy32.56(-8.62%)Also Read | Global Market Today: Asian stocks advance on resurgent AI optimism
SK Hynix climbed 8.20% after the memory chipmaker reported a more than seven-fold increase in quarterly profit and announced plans to return about $75 billion to shareholders. The company also forecast robust demand, supported by investment in AI infrastructure that has driven up memory chip prices.
Samsung Electronics, another major beneficiary of the AI-driven semiconductor boom, advanced 8.90%, helping lift the broader market.
Live Events
The rally followed Tuesday's Wall Street gains, as US stocks closed higher on enthusiasm for artificial intelligence-related companies. Markets also remained focused on the September-quarter earnings season and the US Federal Reserve's policy meeting, Reuters reported.
Also Read | US stocks today: US stocks end higher as AI rally lifts Nasdaq ahead of Fed decision
Other South Korean blue-chip stocks also traded higher. Battery maker LG Energy Solution gained 1.70%, while Hyundai Motor rose 3.27% and Kia Corp advanced 1.50%. POSCO Holdings added 2.72%, while Samsung BioLogics slipped 0.36%.
Market breadth remained positive, with 620 stocks advancing and 257 declining among the 913 issues traded.
Foreign investors were net buyers of South Korean shares worth 589.1 billion won ($444.24 million), Reuters reported.
In currency trading, the South Korean won weakened to 1,335.7 per dollar on the onshore settlement platform, down 0.64% from its previous close of 1,327.2.
In the bond market, December futures on three-year treasury bonds fell 0.05 point to 103.29. The yield on the most actively traded three-year Korean treasury bond declined 2.2 basis points to 3.776%, while the benchmark 10-year yield rose 2.8 basis points to 4.070%, according to Reuters.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onSouth Korean stock marketKOSPI indexSK Hynix sharesSamsung ElectronicsAI boomartificial intelligencesemiconductor stocks
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onSouth Korean stock marketKOSPI indexSK Hynix sharesSamsung ElectronicsAI boomartificial intelligencesemiconductor stocks
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...morelessPrime ExclusivesInvestment IdeasStock Report PlusePaperWealth EditionWill it be a regulatory nightmare if an exchange lists on its own platform?
KYC and KYB: Inside Damani’s Avenue Supermarts that refuses to charge more – Part 1 of 3
Will oil turn into a lingering problem? Is the world economy, India, or the market prepared?
KYB and KYC: Business behind the wealth creator called ‘Divi’s Lab’ – Part 2, concluding
KYB and KYC: Business behind the wealth creator called “Divi’s Lab” – Part 1
The global business of promising more
- 1
- 2
- 3
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET
Unlock Access to All Exclusives with ETPrime FREE TRIAL
15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers
Trial offer expiring in00 : 05 : 00
I'd rather pay ₹2599 nowUh-oh! This is an exclusive story available for selected readers only.
Worry not. You’re just a step away.
Prime Account Detected!
It seems like you're already an ETPrime member with
Login using your ET Prime credentials to enjoy all member benefits
Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.
Unlock ETPrime's Exclusive Stories Today!
Big Price Drop! Flat 40% Off
Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In nowOffer Exclusively For You
Save up to Rs. 700/-
ON ET PRIME MEMBERSHIP
Avail OfferOffer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail OfferOffer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail OfferOffer Exclusively For You
Get Flat 40% Off
Then ₹ 1749 for 1 year
Avail OfferOffer Exclusively For You
ET Prime at ₹ 49 for 1 month
Then ₹ 1749 for 1 year
Avail OfferSpecial Offer
Get flat 40% off on ETPrime
Avail OfferAvail OfferClaim NowAlready a Member? Sign In nowNeed Assistance?
Connect with an ETPrime expert for personalized support and guidance
+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '' + h3 + '
' + h4 + '
- ' + listing + '
What’s Included with
ETPrime Membership
1Exclusive Insights That Matter
Uncover the truth with our investigative stories
Make strategic moves using the real-world case studies
Read industry-specific stories to identify emerging trends
Spot opportunities with in-depth insights that matter
Trump temper on H-1B visas is forcing Indians to do these things to stay put in US
What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.
Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?
The problem with lab grown diamonds
Why a falling rupee is a better option for the economy
A list of top 20 momentum stocks that have delivered massive returns in one year
2Invest Wisely With Smart Market Tools & Investment Ideas
Alpha Trade
Get daily trade ideas from SEBI-registered research analysts.
Investment Ideas
Grow your wealth with stock ideas & sectoral trends.
Stock Reports Plus
All-in-one stock research with Stock Score, peer comparison & key signals.
BigBull Portfolio
Get to know where the market bulls are investing to identify the right stocks.
Stock Analyzer
Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.
Market Mood
Analyze the market sentiments & identify the trend reversal for strategic decisions.
Stock Talk Live at 9 AM Daily
Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.
3Stay informed anytime, anywhere with ET ePaper
ePaper - Print View
Read the PDF version of ET newspaper. Download & access it offline anytime.
ePaper - Digital View
Read your daily newspaper in Digital View & get it delivered to your inbox everyday.
Wealth Edition
Manage your money efficiently with this weekly money management guide.
TOI ePaper
Read the PDF version of TOI newspaper. Download & access it offline anytime.
Deep Explainers
Explore the In-depth explanation of complex topics for everyday life decisions.
Health+ Stories
Get fitter with daily health insights committed to your well-being.
Personal Finance+ Stories
Manage your wealth better with in-depth insights & updates on finance.
5Enjoy Complimentary Subscriptions From Top Brands
Stream new documentaries from all across the world every day.
Stories you might be interested in
Figures reflect the source report and its stated period. This article is for information and is not investment advice.
