As of 11:10 a.m., KOSPI was trading 5.96 percent higher at 5,974.34. with SK hynix and Samsung Electronics both 8 percent higher at 1,4510,000 won and 239,500, respectively, as investors were relieved of chip boom peak-out after SK hynix said its HBM and DRAM supplies for the next three years have already been booked and sold out.
SK hynix extended record-breaking earnings streak for the sixth quarter, reporting 83.33 trillion won in operating profit on revenue of 104.6 trillion won in the quarter ended September, translating into whopping operating margin or near 80 percent.
It indicated the fourth-quarter figure would be better and no sign of easing in demand. Samsung Electronics is expected to deliver similar operating margin when it releases finalized earnings for the third quarter on Thursday.
Foreigners bought at net 631.9 billion won and local institutions 713.7 billion won. Retailers sought the momentum to take profits, selling 1.3 trillion won worth. The KOSDAQ was 2.9 percent higher.
The dollar went stronger to 1,33.50 won and bond yields turned higher, with the 10-year note adding 5.9 basis points ahead of the FOMC outcome due Wednesday in U.S. time.
Copyright ⓒ Aju Press All rights reserved.