Samsung and SK Hynix jump 7% as South Korea's chip exports surge 222%

Samsung Electronics and SK Hynix shares surged Wednesday in Seoul after South Korea reported a 222.5% jump in semiconductor exports, signaling strong demand following a recent selloff in memory chip stocks. SK Hynix rose 7.11% to 1.31 million won, while Samsung climbed 5.56% to 223,250 won. Foreign investors bought a net 197.3 billion won of Korean stocks Wednesday morning, reversing recent selling pressure. Customs data showed semiconductor exports reached a record $27.5 billion in the first 20 days of October, accounting for 44.7% of total exports. Analysts attributed the rebound to bargain hunting and improved sentiment in US tech stocks. SK Securities raised 2027 earnings forecasts for both chipmakers, noting Samsung trades at about 3.5 times expected earnings and SK Hynix at 2.8 times, below historical downturn levels. Risks include potential memory price reversals, slower data center investment, or expanded Chinese competition.