Anthropic-fueled AI rally lifts Korea stocks as foreigners buy, individuals sell

SK Hynix reported a 7-fold increase in Q3 operating profit to 83.3 trillion won, exceeding forecasts. The rise was driven by strong demand for AI infrastructure, boosting memory chip prices. The company's performance surpassed the LSEG SmartEstimate of 76.7 trillion won.

SK Hynix reported a 632% year-on-year increase in Q3 operating profit, reaching 83.33 trillion won, surpassing Bloomberg estimates. Revenue rose 328% to 104.615 trillion won, and net income increased 216% to 39.78 trillion won. The company plans to return 100 trillion won ($75.5 billion) to shareholders this year through dividends and share repurchases.

South Korea's KOSPI index rose 3.09% as chipmakers Samsung Electronics and SK Hynix gained on strong AI chip demand. Q3 GDP grew 3.4% year-on-year, beating expectations. Samsung Electronics and SK Hynix rose 4.23% and 5.18%, respectively. Foreign investors were net buyers of shares worth 593.0 billion won.

SK Hynix cited market conditions for halting Solidigm's IPO review, but affirmed growth prospects and future investment plans, including a potential US chip plant.

A South Korean university professor was indicted for allegedly leaking Samsung Electronics' EUV semiconductor technology. The professor, involved in industry-academic cooperation, is accused of unauthorized data use. Samsung initiated the investigation, but no evidence of financial gain was found.

Samsung is expanding its $17 billion chip factory in Texas, with the first fab operational by 2026 and a second, larger fab starting construction in November. The project is expected to create thousands of jobs and inject billions into the local economy, positioning Texas as a leader in semiconductor manufacturing.