KOSPI Recovers 6,000 Mark on SK Hynix's 100 Trillion Won Return Plan... Will the Rally Continue?

[Anchor]

The KOSPI has recovered the 6,000 mark. Yesterday (October 28), SK Hynix announced plans to return 100 trillion won to shareholders, and expectations were further fueled ahead of Samsung Electronics' earnings release today.

For our first story, reporter Sim Useop has the details.

[Reporter]

The KOSPI surged 10% in just two days.

This followed news of the US AI firm Anthropic filing for an IPO the previous day, coupled with the impact of SK Hynix's earnings.

SK Hynix posted a record-breaking operating profit of 83 trillion won in the third quarter and unveiled a shareholder return package of up to 100 trillion won, significantly boosting the KOSPI index.

A buy sidecar was triggered on the KOSPI for the second consecutive day, pushing the index back above the 6,000 mark for the first time in 10 trading sessions since October 13.

Following Tuesday, foreign investors net-purchased 820 billion won and institutions net-purchased 960 billion won yesterday, leading the market.

Including the alternative trading system Nextrade, the scale of net purchases by foreign investors increased to 1.14 trillion won. It marks about a month since September 18 that foreign investors bought over 1 trillion won worth of stocks.

Now the baton has passed to Samsung Electronics.

Samsung Electronics is also releasing its detailed third-quarter earnings and shareholder return policies this morning, with projections emerging that it could surpass the 100 trillion won scale introduced by SK Hynix.

[Park Sang-hyun / Specialist Advisor at iM Securities: If the trend where South Korea's two major companies themselves generate the highest profits in the world continues to be maintained, I think the upward trend will likely continue considerably....]

Reflecting these expectations, while SK Hynix's stock price jumped 10.9% yesterday, Samsung Electronics also rose by 9%.

Attention is now focused on how the earnings announcements of major US tech companies such as Microsoft and Alphabet, released overnight, will impact our stock market today.

(Video by Lim Woo-sik | Video Editing by Choi Jin-hwa)
※ Please note: This article was translated by AI and may contain errors.