Kospi Reclaims 6,000; SK Hynix Hits Record High

Korea Economic Daily

Summary

The Kospi index climbed back above the 6,000 level despite geopolitical risks.
SK Hynix shares rose about 8%%, surpassing their previous peak and reaching a 52-week high.
The consensus for SK Hynix first-quarter operating profit rose by about 5 trillion won from early last month to 34.1565 trillion won.

Forecast Trend Report by Period

South Korea’s Kospi index climbed back above 6,000 despite geopolitical risks, returning to that level 45 days after the U.S. invasion of Iran on Feb. 28. SK Hynix Inc. also rose to a new 52-week high.

The benchmark index moved above 6,000 at about 10:13 a.m. on July 14, according to the Korea Exchange. The gain came after President Donald Trump said a day earlier that negotiations to end the war with Iran were continuing. Optimism over earnings-sensitive stocks, including semiconductor shares, also supported the move.

SK Hynix was trading at 1.122 million won, up about 8% from the previous day. The stock topped its previous high of 1.117 million won set on Feb. 26, reaching a new 52-week high. It had already risen 1.27% the previous day despite war-related risks.

SK Hynix is due to report earnings on July 23. According to Epic AI, an AI-based investment information service, the consensus estimate for the company’s first-quarter operating profit was 34.1565 trillion won. That was about 5 trillion won higher than the roughly 29 trillion won forecast in early last month.

Lee Sun-a, Hankyung.com reporter suna@hankyung.com