Seoul shares soar over 6% on revived AI optimism, SK hynix earnings

What happened: Seoul shares jumped after SK hynix reported record quarterly earnings and announced additional shareholder returns, with chipmakers leading the rally. Key numbers: KOSPI rose 374.1 points, or 6.63 percent, to 6,012.44. SK hynix gained 10.89 percent to 1.49 million won; Samsung Electronics rose 9.01 percent to 242,000 won. Why it matters: An analyst said SK hynix showed AI chip demand can translate into solid operating profits and shareholder returns, easing concerns about the sustainability of the AI-driven rally and a potential peak in the memory chip cycle. Coverage: 3 outlets in 24h

Seoul shares jumped after SK hynix reported record quarterly earnings and announced additional shareholder returns, with chipmakers leading the rally.

An analyst said SK hynix showed AI chip demand can translate into solid operating profits and shareholder returns, easing concerns about the sustainability of the AI-driven rally and a potential peak in the memory chip cycle.