The stock market rallied on the back of positive news from SK Hynix. The KOSPI index surged over 6%, reclaiming the 6000 mark for the first time in ten trading days. This increase follows SK Hynix's announcement of record earnings and a substantial shareholder return plan.
According to the Korea Exchange, the KOSPI closed at 6012.44, up 374.10 points (6.63%) from the previous trading day. This marks the first time the index has surpassed 6000 since October 14, when it closed at 6008.81. During the trading session, the index reached a high of 6032.28. The total market capitalization of the KOSPI also increased by 314 trillion won compared to the previous day. The KOSDAQ index also rose, closing at 771.28, up 27.45 points (3.69%).
SK Hynix was the primary driver of the market's surge. The company reported its highest quarterly earnings to date and unveiled a massive shareholder return plan worth 100 trillion won, which contributed to the rise in the index. SK Hynix's stock price jumped by 14,600 won (10.89%) to close at 1,487,000 won. Samsung Electronics also saw a rise in its stock price, closing at 242,000 won, up 20,000 won (9.01%), amid expectations of additional shareholder returns. Other leading stocks in the semiconductor value chain, such as SK Square (up 11.23%) and Samsung Electro-Mechanics (up 8.74%), also experienced significant gains.
Analysts believe that this earnings report could restore confidence in the structural fundamentals of the market. Lee Jae-won, a researcher at Yuanta Securities, stated, "The essence of SK Hynix's earnings report is the visibility of demand through 2029, which is more important than the overwhelming operating profit. Concerns about the sustainability of AI investments and the peak of memory profits have been offset by these results, suggesting that foreign net buying may continue."
* This article has been translated by AI.
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