Samsung, SK Hynix Surge Over 8% Intraday, Kioxia Jumps Over 12% as SK Hynix Record Results Boost Memory Chip Sector

TradingKey - On October 28, South Korean semiconductor stocks surged during intraday trading, with Samsung Electronics and SK Hynix leading the South Korean market higher. SK Hynix's latest third-quarter results set a record high, while the company also announced a large-scale shareholder return plan, further boosting the performance of the memory chip sector.

As of press time, SK Hynix was up about 8.2% at 1.451 million won (approx. $1,086.3), while Samsung Electronics rose 8.1% to 240,000 won. South Korea's KOSPI Index intraday gain once surpassed 5%, topping 5,900 points, and triggered a buy-side circuit breaker as KOSPI 200 futures gained over 5%. Meanwhile, in the Japanese market, Kioxia rallied in tandem, jumping over 12% intraday at one point to 14,185 yen (approx. $89.8).

SK Hynix daily stock price chart, Source: TradingView

According to SK Hynix's third-quarter financial report released that day, operating profit reached 83.3 trillion won, surging over sevenfold year-over-year and beating market expectations of around 76.7 trillion won; quarterly revenue jumped 328% year-over-year to 104.6 trillion won, with both figures setting new records. The company stated that AI infrastructure investments continue to drive demand for DRAM and high-bandwidth memory (HBM), with current orders for related products already covering multiple years ahead.

Meanwhile, SK Hynix announced a shareholder return plan worth approximately 100 trillion won, including cash dividends as well as share repurchases and cancellations. The company also stated that it has signed long-term supply agreements with 14 major customers, with current locked-in order volumes accounting for over 50% of its total capacity from 2027 through 2028.

Notably, Samsung Electronics will release its full third-quarter earnings report on October 29. Investors should focus on the profitability of its memory business, progress on HBM products, and customer qualification status for advanced memory products.