Samsung Electronics Q3 Profit Jumps Nearly 8-Fold to Record High; SK Hynix Rises Nearly 1%, Kioxia Gains Almost 4%

TradingKey - During the Asian trading session on October 8, Japanese and South Korean stock markets opened mixed. The Nikkei 225 Index opened down 0.28% at 69,840.6 points, while the Korea Composite Stock Price Index (KOSPI) gained 0.07% to 6,808.68 points. Following an overnight pullback in US stocks and with US Treasury yields remaining elevated, Japanese and South Korean tech stocks opened with divergent performances.

The South Korean market is focusing on Samsung Electronics' preliminary earnings and memory chip demand. As of press time, Samsung Electronics was up about 0.19% at 269,000 won (approximately $200). SK Hynix rose 0.99% to 1.74 million won.

[Source: TradingView]

Samsung Electronics' preliminary results showed that third-quarter revenue is expected to reach 195 trillion won, up 126.6% year-on-year, while operating profit is projected at 107.4 trillion won, up approximately 783% year-on-year, hitting an all-time quarterly high. AI servers drove memory chip demand and price increases, serving as a key factor in earnings growth.

In the Japanese market, SoftBank Group opened up about 0.4% before turning lower; as of press time, SoftBank was down about 1.79% at 6,200 yen. Kioxia rose nearly 4%.

[Source: TradingView]

Markets will continue to monitor Samsung Electronics' detailed results, SK Hynix's earnings report, and changes in memory chip prices. South Korean stock markets will be closed on October 9 for Hangul Day.