SK Hynix shares hit a record high on the 4th, as buying interest grew on strong results from global big tech companies including Apple and expanded investment in AI production facilities.
According to the Korea Exchange, SK Hynix was trading at 1,353,000 won as of 9:47 a.m., up 67,000 won (5.21%) from the previous session. The stock rose as high as 1,364,000 won during the session, setting an all-time high.
Samsung Electronics was up 4,000 won (1.81%) at 224,500 won at the same time.
The gains appeared to reflect, all at once, a tech-led rally in New York that continued while South Korea’s market was closed for the Labor Day holiday.
The Philadelphia Semiconductor Index rose 2.26% on the 30th of last month and 0.87% on the 1st of this month.
Apple posted net profit on the 30th (local time) that beat market expectations. Five of the so-called Magnificent Seven companies reported earnings, and all topped forecasts.
Big tech companies also raised their annual AI production-facility investment plans. That helped lift expectations for a memory upcycle, spreading optimism across the sector.
* This article has been translated by AI.
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