In early trading on the 26th, Samsung Electronics jumped more than 3%, breaking through 211,000 won. At the same time, SK hynix also rose more than 1%, surpassing 1,050,000 won. The surge is seen as investor sentiment flocking to tech stocks after Nvidia released results overnight that beat market expectations.
As of 9:23 a.m. that day, in the Korea Exchange, Samsung Electronics was trading at 211,000 won, up 7,500 won (3.69%) from the previous session. At the same time, SK hynix was also trading at 1,037,000 won, up 19,000 won (1.87%) from the previous session. During intraday trading, they changed hands at 214,000 won and 1,062,000 won, respectively, setting new 52-week highs.
Overnight, Nvidia released its fourth-quarter results after the New York market close. Nvidia said fourth-quarter revenue last year was $68.13 billion, far exceeding the estimate of $66.2 billion. Earnings per share (EPS) also came in at $1.62, beating the estimate of $1.53.
The results reinforced that the artificial intelligence (AI) industry's expansion cycle is continuing, which is seen as stoking investor sentiment.