South Korean chip makers Samsung and SK Hynix rally over 5% as U.S. semiconductor index rebounds and oil prices fall
Samsung Electronics and SK Hynix surged in early Tuesday trading after the Philadelphia Semiconductor Index jumped more than 6% and crude oil prices slipped sharply. Samsung rose between 5.4% and 5.9% to around 200,000 won, while SK Hynix gained about 6.7% to roughly 1.21‑1.23 million won. The rally was supported by lower oil prices, U.S. tech strength and renewed investor buying in Korea.
Why it matters
The price gains lift the market capitalisation of both companies and push the KOSPI index up more than 4%, which may trigger further buying from index‑linked funds. Morgan Stanley’s note cutting SK Hynix’s price target to 1.6 million won signals a more cautious outlook despite the short‑term rally.
Key facts
- 1SK Hynix traded at 1.213 million won, up 6.78% in pre‑market trading (). en.sedaily.com
- 2Samsung Electronics traded at 201,000 won, up 5.85% in pre‑market trading (). en.sedaily.com
- 3SK Hynix closed at 1,212,000 won, up 6.7% (). investing.com
- 4Samsung Electronics rose to 200,250 won, up 5.45% (). finance.biggo.com
- 5The KOSPI index rose 4.4% to about 5,281.13 points during the session (). finance.biggo.com
- 6West Texas Intermediate crude fell 4.38% to $86.85 a barrel (). en.sedaily.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.