South Korean Memory Chip Stocks Climb on Shareholder Return Growth Prospects and Capex Expectations

Deep News10-27 08:30

South Korean memory chip stocks advanced, driven by expectations of increased shareholder returns and strong capital expenditure from U.S. tech giants.

Samsung Electronics shares rose as much as 4.9%, while SK Hynix shares climbed 7.3%. The Kospi index gained 4.1%.

SK Hynix is preparing to announce an additional shareholder return plan worth 50 trillion to 60 trillion won on October 28, according to a report citing unnamed industry sources.

U.S. tech stocks closed higher overnight, buoyed by optimistic developments including Anthropic's public filing for an IPO. In addition, SpaceX signed a GPU equipment financing lease agreement worth approximately $40 billion with Apollo.

Meta Platforms is seeking to raise up to $95 billion through the sale of common and preferred stock to support its efforts to gain a leading position in the race for artificial intelligence development.

Note: SK Hynix will report earnings on Wednesday, and Samsung will report earnings on Thursday.

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