Summary
- Samsung Electronics and SK Hynix saw their combined market capitalization rise 73.31%% from the start of the year to about 2,173 trillion won, accounting for 40.96%% of the Kospi’s total value.
- Samsung Electronics said its stock set a new intraday high after posting record first-quarter results, with 57.2 trillion won in operating profit and 133 trillion won in revenue.
- SK Hynix posted record quarterly results, with 37.6103 trillion won in operating profit and 52.5763 trillion won in revenue, and its shares rose as much as 3.60%% during the session.
Forecast Trend Report by Period
Samsung and SK Hynix now worth about $1.51 trillion combined
Up more than 73% from the start of the year
Equal to about 41% of the Kospi’s total market value
Samsung Electronics Co. and SK Hynix Inc., South Korea’s two biggest chipmakers, have added more than 73% in combined market value since the start of the year after reporting record results.
Yonhap News reported that, as of 11:30 a.m. on April 23, Samsung’s market capitalization stood at about 1,305 trillion won and SK Hynix’s was about 867 trillion won.
Their combined market value reached about 2,173 trillion won, up 23.52% from about 1,759 trillion won at the start of April. That marks a 73.31% jump from about 1,254 trillion won at the start of the year. The figure is equal to 40.96% of the Kospi’s total market capitalization of 5,304 trillion won.
The two companies’ share of the benchmark Kospi’s market value first rose above 40% on April 7 and widened to as much as 41.11% on April 21.
Samsung opened 2.53% higher at 223,000 won and climbed as much as 5.52% to 229,500 won during the session. That surpassed its previous intraday high for this year of 223,000 won set on Feb. 27.
SK Hynix opened 0.25% lower amid a sell-on-news reaction, where shares fall despite favorable developments. The stock later turned higher and at one point rose 3.60% to 1,267,000 won.
Samsung said on April 7 that first-quarter operating profit on a consolidated basis rose 755% from a year earlier to 57.2 trillion won. Revenue increased 68.1% to 133 trillion won, setting record highs for both sales and operating profit.
SK Hynix posted first-quarter operating profit of 37.6103 trillion won, up 405.5% from a year earlier. Revenue rose 198.1% to 52.5763 trillion won. The company also set a quarterly record and beat market expectations.
According to CompaniesMarketCap.com, Samsung’s market value briefly topped $1 trillion on April 23, lifting it to 12th place globally from 13th. It was later listed at $993 billion, putting it back in 13th place.
Choi Su-jin, Hankyung.com reporter naive@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
