FX.co ★ South Korean Shares Climb on SK Hynix, Wall Street Rally

The KOSPI index surged by 1.4%, reaching approximately 4,065 on Wednesday, marking new record highs. This upward movement was bolstered by significant increases in technology stocks and positive influences from Wall Street. Notably, SK Hynix reported unprecedented earnings for the third quarter, with its operating profit exceeding KRW 11 trillion. This growth was fueled by strong global demand for high-bandwidth memory used in AI data centers. As a principal supplier to companies like Nvidia and other leading chip manufacturers, SK Hynix's performance highlights South Korea's critical position in the global semiconductor supply chain. Wall Street's overnight rally in technology stocks favorably impacted Seoul's tech sector as well, with SK Hynix rising by 2.8%, Samsung Electronics by 0.2%, and LG Energy Solution by 1.6%. Additionally, gains were recorded in Hyundai Motor (2.6%), Doosan Enerbility (8.9%), and Naver (4.2%). Investors are also closely following regional diplomatic developments leading up to the APEC Summit this week, where discussions regarding AI and supply chain collaboration are anticipated.