Latest news with #SKHynix
New Straits Times
11 hours ago
- Business
- New Straits Times
South Korea's KOSPI tops 3,000 for the first time since early 2022
SEOUL: South Korean shares rose above the 3,000 mark for the first time since January 2022 and were set to log their fourth weekly gain after newly-elected President Lee Jae Myung announced a stimulus spending plan. Expectations are that more such plans are potentially in the works. The won strengthened, while the benchmark bond yield rose. The benchmark KOSPI was up 25.02 points, or 0.84 per cent, at 3,002.76 as of 0155 GMT. For the week, the index is up 3.75 per cent. South Korea's new administration proposed on Thursday US$14.7 billion of extra government spending to support sluggish domestic demand, as President Lee makes economic recovery his top policy agenda. Among index heavyweights, chipmaker Samsung Electronics rose 0.51 per cent, while peer SK Hynix gained 2.85 per cent. Battery maker LG Energy Solution climbed 2.58 per cent. Hyundai Motor and sister automaker Kia Corp were unchanged and down 0.10 per cent, respectively. Steelmaker POSCO Holdings was flat, while drugmaker Samsung BioLogics rose 1.70 per cent. Of the total 936 traded issues, 450 shares advanced, while 435 declined. Foreigners were net sellers of shares worth RM688,000. The won was quoted at 1,371.1 per US dollar on the onshore settlement platform, 0.63 per cent higher than its previous close at 1,379.8. In offshore trading, the won was quoted at 1,371.4 per dollar, up 0.40 per cent on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,368.6. The KOSPI has risen 25.14 per cent so far this year. The won has strengthened 7.40 per cent against the dollar so far this year. In money and debt markets, September futures on three-year treasury bonds lost 0.01 point to 107.07. The most liquid three-year Korean treasury bond yield rose by 1.8 basis points to 2.49 per cent, while the benchmark 10-year yield rose by 0.8 basis points to 2.89 per cent.
Business Recorder
a day ago
- Business
- Business Recorder
South Korean shares turn lower as Mideast tensions overshadow tech rally
SEOUL: Round-up of South Korean financial markets: South Korean shares fell on Thursday, weighed by heightening geopolitical tensions in the Middle East, even as tech stocks continued to rally. The won weakened, while the benchmark bond yield was steady. The benchmark KOSPI was down 11.85 points, or 0.40%, at 2,960.34 as of 0142 GMT, after starting the session higher. US President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites as the Israel-Iran conflict entered its seventh day on Thursday. South Korea's acting finance minister said authorities would closely monitor financial markets and respond in a timely manner if necessary. Among index heavyweights, chipmaker Samsung Electronics fell 0.67%, while peer SK Hynix was flat. Battery maker LG Energy Solution slid 0.86%. Hyundai Motor and sister automaker Kia Corp were up 0.49% and down 0.71%, respectively. Steelmaker POSCO Holdings was flat, while drugmaker Samsung BioLogics fell 0.60%. Tech stocks extended a rally on policy optimism, with search engine Naver rising 4.11% and instant messenger Kakao climbing 10.14%. Of the total 934 traded issues, 302 shares advanced, while 592 declined. Foreigners were net sellers of shares worth 213.9 billion won ($154.8 million). The won was quoted at 1,381.9 per dollar on the onshore settlement platform, 0.69% lower than its previous close at 1,372.3. In money and debt markets, September futures on three-year treasury bonds were unchanged at 107.11.
Hindustan Times
a day ago
- Business
- Hindustan Times
South Korean shares turn lower as Mideast tensions overshadow tech rally
* KOSPI falls, foreigners net sellers * Korean won weakens against dollar * South Korea benchmark bond yield flat SEOUL, - Round-up of South Korean financial markets: ** South Korean shares fell on Thursday, weighed by heightening geopolitical tensions in the Middle East, even as tech stocks continued to rally. The won weakened, while the benchmark bond yield was steady. ** The benchmark KOSPI was down 11.85 points, or 0.40%, at 2,960.34 as of 0142 GMT, after starting the session higher. ** U.S. President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites as the Israel-Iran conflict entered its seventh day on Thursday. ** South Korea's acting finance minister said authorities would closely monitor financial markets and respond in a timely manner if necessary. ** Among index heavyweights, chipmaker Samsung Electronics fell 0.67%, while peer SK Hynix was flat. Battery maker LG Energy Solution slid 0.86%. ** Hyundai Motor and sister automaker Kia Corp were up 0.49% and down 0.71%, respectively. Steelmaker POSCO Holdings was flat, while drugmaker Samsung BioLogics fell 0.60%. ** Tech stocks extended a rally on policy optimism, with search engine Naver rising 4.11% and instant messenger Kakao climbing 10.14%. ** Of the total 934 traded issues, 302 shares advanced, while 592 declined. ** Foreigners were net sellers of shares worth 213.9 billion won . ** The won was quoted at 1,381.9 per dollar on the onshore settlement platform, 0.69% lower than its previous close at 1,372.3. ** In money and debt markets, September futures on three-year treasury bonds were unchanged at 107.11. ** The most liquid three-year Korean treasury bond yield rose by 0.4 basis point to 2.473%, while the benchmark 10-year yield fell by 0.1 basis point to 2.875%.
CNBC
3 days ago
- Business
- CNBC
SK Hynix shares extend gains to over 2-decade highs as parent group reportedly plans AI data center
Shares in South Korea's SK Hynix extended gains to hit a more than 2-decade high on Tuesday, following reports over the weekend that SK Group plans to build the country's largest AI data center. SK Hynix shares, which have surged almost 50% so far this year on the back of an AI boom, were up nearly 3%, following gains on Monday. The company's parent, SK Group, plans to build the AI data center in partnership with Amazon Web Services in Ulsan, according to domestic media. SK Telecom and SK Broadband are reportedly leading the initiative, with support from other affiliates, including SK Hynix. SK Hynix is a leading supplier of dynamic random access memory or DRAM — a type of semiconductor memory found in PCs, workstations and servers that is used to store data and program code. The company's DRAM rival, Samsung, was also trading up 4% on Tuesday. However, the two companies' shares have diverged of late. On Friday, Samsung Electronics' market cap reportedly slid to a 9-year low of 345.1 trillion won ($252 billion) as the chipmaker struggles to capitalize on AI-led demand. SK Hynix, on the other hand, has become a leader in high bandwidth memory — a type of DRAM used in artificial intelligence servers — supplying to clients such as AI behemoth Nvidia. A report from Counterpoint Research in April said that SK Hynix had captured 70% of the HBM market by revenue share in the first quarter. This HBM strength helped it overtake Samsung in the overall DRAM market for the first time ever, with a 36% global market share as compared to Samsung's 34%.
Economic Times
4 days ago
- Business
- Economic Times
S.Korean shares close at 3-1/2-year high on AI rally; SK Hynix hits record high
South Korean shares rose on Monday to their highest level in 3-1/2 years, as artificial intelligence firms rallied on policy hopes. ADVERTISEMENT ** The benchmark KOSPI ended up 52.04 points, or 1.80%, at 2,946.66, its highest closing level since January 13, 2022. ** President Lee Jae-myung, who took office on June 4 and has vowed to boost investment in AI, appointed Ha Jung-woo, head of Future AI Centre at Naver, the country's dominant web portal operator, as his first AI secretary on Sunday. ** AI chipmaker SK Hynix rose 5.31% to a record closing high. Cloud service provider Samsung SDS gained 21.7%, its biggest daily jump on record, while peer LG CNS added 11.3%. ** Search engine Naver rose 4.49%, while instant messenger Kakao gained 3.30%. ** "Meanwhile, geopolitical tension in the Middle East will not be over anytime soon, but financial markets are no longer expecting its downward pressure to be huge," said Park Kwang-nam, an analyst at Mirae Asset Securities. ADVERTISEMENT ** Israel and Iran launched fresh attacks on Sunday, killing and wounding civilians and raising concerns of a broader regional conflict, with both militaries urging civilians on the opposing side to take precautions against further strikes. ** South Korea's finance ministry said authorities would closely monitor financial markets and deploy immediate and bold measures if volatility heightened excessively. ADVERTISEMENT ** Of the total 937 traded issues, 621 shares advanced, while 280 declined. ** Foreigners were net sellers of shares worth 322.4 billion won ($236.88 million). ADVERTISEMENT ** The won was quoted at 1,361.0 per dollar on the onshore settlement platform, 0.18% higher than its previous close at 1,363.5. ** The most liquid three-year Korean treasury bond yield rose by 3.2 basis points to 2.488%, while the benchmark 10-year yield rose by 5.6 basis points to 2.876%. ($1 = 1,361.0300 won) (You can now subscribe to our ETMarkets WhatsApp channel)
