SK Hynix Shares Rise 15% on Chip Earnings, U.S.-Iran Truce

Shares of South Korean chipmaker SK Hynix rose 15 percent on April 8, reaching 1,050,000 won each, as robust earnings expectations for the memory chip sector combined with a temporary U.S.-Iran ceasefire to lift investor sentiment across Asian markets. The surge outperformed gains in peer Samsung Electronics, whose shares climbed 8.7 percent, and the broader Kospi index, which advanced as much as 7.7 percent.

The rally followed Samsung Electronics' announcement on April 7 of record first-quarter results, with operating profit projected to increase more than eightfold year-over-year to 57.2 trillion won. The company attributed the performance to surging demand for artificial intelligence infrastructure, which has tightened supply and pushed up prices for DRAM and NAND memory chips. Analysts noted that blended average selling prices for DRAM rose 65 percent and for NAND 78 percent in the quarter, exceeding forecasts and signaling sustained pricing power for producers.

SK Hynix, the world's second-largest memory chip maker, is scheduled to release its January-March earnings later in April. Brokerages raised projections accordingly, with Korea Investment Securities lifting its...