SK Hynix Tops 2,000 Trillion Won in Intraday Market Value, Second Only to Samsung
Summary
- SK Hynix crossed a 2,000 trillion won market capitalization during intraday trading, becoming the second company in South Korea's stock market after Samsung Electronics to top that level.
- SK Hynix shares traded at 2.838 million won, up 5.7%% from the previous session, lifting its market value to about 2,022 trillion won.
- Samsung Electronics and SK Hynix account for about 52%% of the Kospi, while investor sentiment was buoyed by gains in U.S. semiconductor stocks.
Forecast Trend Report by Period
SK Hynix's market capitalization rose above 2,000 trillion won ($1.45 trillion) during trading on June 19.
As of 9:05 a.m., the shares were trading at 2.838 million won, up 153,000 won, or 5.7%, from the previous session. The gain lifted the company's market value to about 2,022 trillion won ($1.47 trillion), making it the second company in South Korea's stock market after Samsung Electronics to surpass the 2,000 trillion won mark. The two companies account for about 52% of the Kospi.
The rise was attributed to improved investor sentiment after gains in U.S. semiconductor stocks. Early on June 19, the Nasdaq climbed 1.91% in New York after investors were reassured by a memorandum of understanding between the U.S. and Iran to end the war. Micron and SanDisk jumped 8.7% and 11.54%, respectively, helping reignite gains in chip shares.
Noh Jeong-dong, Hankyung.com reporter, dong2@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.
