Seoul stocks rebound as Anthropic IPO revives AI investment sentiment

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.

Samsung Electronics and SK Hynix plan a combined $152B+ shareholder return program, driven by record operating profits of $470B. SK Hynix aims to return $72.3B, including buybacks and dividends, while Samsung targets $79.5B, the largest in South Korea. Both companies benefit from AI chip demand and strong cash flow.

SK hynix completed a KRW 40 trillion share buyback, acquiring 23.69 million shares, or 3.47% of outstanding stock. The largest shareholder, SK Square, maintained its stake. The buyback was executed through SK Securities and may impact earnings-per-share metrics.