South Korean Shares Climb on SK Hynix, Wall Street Rally
South Korean shares rose 1.4% to around 4,065, reaching record highs, driven by strong technology gains and Wall Street's positive sentiment. SK Hynix reported record Q3 earnings with an operating profit exceeding KRW 11 trillion, fueled by high demand for AI memory. This highlights South Korea's significance in the global semiconductor supply chain. Other tech stocks like Samsung Electronics and LG Energy Solution also saw gains, while investors kept an eye on diplomatic developments ahead of the APEC Summit focusing on AI and supply chain cooperation.
The benchmark KOSPI climbed 1.4% to around 4,065 on Wednesday, hitting new record highs, supported by strong gains in technology shares and positive sentiment from Wall Street.
SK Hynix posted record third-quarter earnings, with operating profit surpassing KRW 11 trillion, driven by robust global demand for high-bandwidth memory used in AI data centers.
As a key supplier to Nvidia and other major chipmakers, the firm's results underscored South Korea’s role in the global semiconductor supply chain.
Overnight, Wall Street’s rally in tech stocks also lifted sentiment across Seoul's tech sector, with gains in SK Hynix (2.8%), Samsung Electronics (0.2%), and LG Energy Solution (1.6%).
Other notable advances came from Hyundai Motor (2.6%), Doosan Enerbility (8.9%), and Naver (4.2%).
Investors also monitored diplomatic developments in the region ahead of the APEC Summit this week, where discussions on AI and supply chain cooperation are expected.
