Shares in South Korean memory chipmaker SK Hynix closed almost 11 per cent higher on Wednesday after it reported record third-quarter results that comfortably beat forecasts, CNBC reports.
Revenue rose about 328 per cent from a year earlier and operating profit by about 632 per cent, with quarterly sales passing 100 trillion won for the first time. The company said it expected AI investment to keep its momentum. The company plans to return about 100 trillion won to investors, including dividends and share buybacks, and raised its shareholder return target to more than half of free cash flow for 2025 to 2027.
Chief executive Kwak Noh-Jung said market volatility and a fall in chip stocks had led the firm to pause plans for fundraising or a listing for its US subsidiary Solidigm. The Kospi index closed 6.6 per cent higher.
Source: CNBC
