Kospi surges 6.6% as SK Hynix profit jump lifts AI chip stocks
Kospi jumps after SK Hynix earnings and shareholder payout
South Korea's Kospi stock index surged 6.6% on Wednesday after SK Hynix reported a sevenfold jump in quarterly profit and announced a large shareholder payout. SK Hynix shares climbed 11%, while Samsung Electronics gained 9%. In U.S. premarket trading, Micron Technology and SanDisk each rose 4%. Bitcoin, a cryptocurrency, also edged higher.
Key points from the report
- Kospi rose 6.6% on Wednesday, October 28, 2026.
- SK Hynix shares jumped 11%; Samsung Electronics gained 9%.
- Micron Technology and SanDisk each rose 4% in U.S. premarket trading.
- SK Hynix reported September-quarter operating profit of 83.3 trillion won, about $62.5 billion.
- The company plans to return 60 trillion won, or $45 billion, to shareholders through buybacks and dividends.
- Bitcoin rose to $81,700.
What CoinDesk reported
CoinDesk reported, citing Bloomberg, that SK Hynix's profit exceeded analyst forecasts by more than 7%. The chipmaker said conventional and high-bandwidth memory capacity is sold out through 2029, with shortages expected to continue through at least 2030.
What is confirmed
The report confirms that the Kospi surged on Wednesday, driven by SK Hynix's earnings and payout announcement. It also confirms a sharp rise in SK Hynix and Samsung shares, along with gains for Micron and SanDisk.
What is still unclear
The report does not say exactly when the shareholder buybacks and dividends will start or end beyond the remainder of the fiscal year. It also does not explain how the AI stock rally or memory shortage outlook will affect cryptocurrency prices beyond the brief mention of Bitcoin.
Why this matters for crypto readers
The results indicate that tight memory supplies continue to support chipmaker earnings. The gains came after weeks of pressure on AI stocks as investors questioned the cost and funding of AI infrastructure. Bitcoin moved higher alongside the stock gains.
What happens next
SK Hynix plans to return 60 trillion won ($45 billion) through buybacks and dividends during the remainder of the fiscal year. The company expects memory shortages to last through at least 2030.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.