Korea's KOSPI Surges 6% as Chip Giants Rally

MT Newswires Live
3 hours ago

South Korea's benchmark KOSPI index extends gains to 6%, driven by a massive rally in semiconductor heavyweights. SK Hynix surges over 11%, while Samsung Electronics jumps more than 8%.

Industry sources on the 3rd said Samsung Electronics is negotiating with customers to lift average DRAM selling prices in Q3 this year by up to 20% QoQ.

KB Securities analysts led by Jeff Kim say SK Hynix will benefit in H2 from accelerating AI infrastructure investment and from a storage-chip supply shortage expected to persist through end-2028. "Under continued expansion of AI-related investment, SK Hynix's earnings and share-price uptrend is far from over," they said. KB forecasts global AI investment at $800 bln in 2026, $1.1 tln in 2027 and $1.5 tln in 2028, and raised its 2026 operating profit forecast for SK Hynix by 3.6% to 290 tln won.

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