SK Hynix Rises 4.8% to Record Intraday High; Samsung Electronics Gains 1.6%
Summary
- SK Hynix surged in intraday trading and renewed its all-time high.
- SK Square and Samsung Electronics also advanced, lifting South Korean semiconductor stocks broadly.
- A sharp rally in Intel and a 4.32%% gain in the Philadelphia Semiconductor Index in U.S. trading helped drive gains in South Korean chip shares.
Forecast Trend Report by Period
SK Hynix shares jumped on April 27, hitting another record intraday high.
As of 9:42 a.m., the stock was up 59,000 won, or 4.83%, from the previous session at 1,281,000 won. It rose as high as 1,288,000 won during the session, setting a new intraday record.
SK Square, SK Hynix's largest shareholder, was trading 5.38% higher at 764,000 won at the same time. The stock climbed as high as 773,000 won intraday, also marking a record high.
Samsung Electronics also gained 1.59% to 223,000 won.
The rally appeared to reflect strength in U.S. semiconductor shares at the end of last week, led by Intel, spilling over into South Korean chip stocks. On April 24, the Philadelphia Semiconductor Index surged 4.32% on the New York Stock Exchange.
Intel in particular jumped 23.6% to close at $82.54. That marked its biggest daily gain in 39 years. The move came after the company reported strong first-quarter results, with investors also betting demand for central processing units in the artificial intelligence industry will continue to rise sharply.
Go Jeong-sam, Hankyung.com reporter, jsk@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.
