The KOSPI index surged 6.63% to close at 6,012.44, reclaiming the 6,000 mark for the first time in ten sessions. This rally was driven by SK hynix reporting earnings that beat market expectations and projecting strong memory-chip demand through 2030, leading to significant net buying by foreign and institutional investors. While semiconductor heavyweights saw concentrated gains, retail investors net sold 1.80 trillion won, and Robinhood shares declined due to weak cryptocurrency revenue impacting its financial results.
Operating profit surged 632% year on year in the third quarter, as the company said manufacturing challenges and slow factory additions would keep demand above supply.
Read the full storyThe rally in chip stocks followed SK hynix revenue topping 100 trillion won for the first time, while foreign and institutional investors were net buyers during the session.