Lates News

After Samsung Electronics reached a preliminary agreement with the union, resolving the strike threat faced by the world's largest memory chip manufacturer, the South Korean stock market surged significantly. The benchmark South Korean KOSPI index soared 6.4% on Thursday, with Samsung's stock price jumping nearly 7%. Its competitor SK Hynix also rose by as much as 8.4%. After the surge in futures, the Korea Exchange temporarily suspended program trading for the KOSPI and KOSDAQ indexes. In addition, chip-related stocks were boosted by Nvidia's better-than-expected performance. "The preliminary agreement reached between labor and management is a positive development in terms of reducing uncertainty," said Ha SeokKeun, Chief Investment Officer at Eugene Asset Management. "Furthermore, Nvidia's earnings conference call once again emphasized the strong demand for artificial intelligence-driven memory, especially high-bandwidth memory and advanced DRAM."