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South Korean stocks jump nearly 6% after SK Hynix earnings beat

The KOSPI rose 5.99% to 5,975.98 as SK Hynix posted higher-than-expected third-quarter profit and about $75 billion in shareholder returns, Reuters reported.

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what happened

Shares in South Korea climbed about 6% on Wednesday, with chipmakers leading the gains. According to Reuters, SK Hynix reported third-quarter profit above forecasts, expected demand to stay robust, and announced shareholder returns of about $75 billion. The company's stock gained 8.2%, and its quarterly profit rose more than seven-fold as AI infrastructure keeps pushing up memory chip prices.

Samsung Electronics added 8.9%. The KOSPI gained 337.64 points, or 5.99%, to 5,975.98 as of 0140 GMT. Foreign investors were net buyers of shares worth 589.1 billion won, but the won weakened 0.64% to 1,335.7 per dollar.

why it matters

Overnight gains in US stocks, driven by an AI-led tech rally during earnings season, and the Federal Reserve's meeting set the backdrop for Asian markets. If the trend holds, the KOSPI will post its biggest daily percentage gain since July 31. The key question for investors is how durable memory chip demand will be, since it drives the whole Korean semiconductor sector.

market impact

South Korean stocks and chipmakers: SK Hynix results support the semiconductor sector and the KOSPI index

  • KOSPI pressure up — chipmaker rally after SK Hynix results lifts the index
  • SK Hynix pressure up — profit above forecasts and shareholder returns support the shares
  • South Korean won pressure down — weakened 0.64% to 1,335.7 per dollar despite heavy foreign share buying

tags

EarningsCurrencyBondTreasury NotesStockSouth Korea

instruments

KOSPISK HynixSamsung ElectronicsUSD/KRWKorean won

sources

  1. South Korean shares rally 6% as SK Hynix beats forecasts — Reuters, 28 October 2026 at 01:53 UTC

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