South Korean ETF Surges as SK hynix Beats Expectations with Massive Shareholder Return Plan, CSOP SK hynix Daily Leveraged 2X Product (07709) Opens 12% Higher

Stock News10-28 09:32

South Korean equity ETFs opened sharply higher, with the CSOP Samsung Electronics Daily Leveraged 2X Product (07747) climbing 14.97% to HK$56.84 and the CSOP SK hynix Daily Leveraged 2X Product (07709) rising 12.18% to HK$23.4 as of press time.

South Korean stocks triggered a circuit breaker in morning trading, with Samsung Electronics gaining more than 7% and SK hynix advancing over 6%.

SK hynix reported third-quarter sales of 104.62 trillion won, beating expectations of 98.96 trillion won, while third-quarter operating profit came in at 83.33 trillion won, above the anticipated 77.5 trillion won.

SK hynix unveiled an unprecedented shareholder return program, announcing plans to return approximately 100 trillion won to shareholders in fiscal year 2026, including at least 30 trillion won in cash dividends and at least 60 trillion won through share buybacks and cancellations.

SK hynix expects the memory chip supply shortage to persist through 2030.

Notably, Samsung Electronics is scheduled to release its earnings report this Thursday.

Meanwhile, U.S. tech stocks rallied overnight, with the Philadelphia Semiconductor Index surging 3.60%. Meta's US$25 billion common stock offering attracted enthusiastic investor demand, with subscription demand reaching roughly five times the number of shares available, signaling that investor appetite for AI investments remains strong.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment