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The Economic Times
The Economic Times
National

Samsung, SK Hynix rally as Temasek investment report lifts chip stocks

SK Hynix Temasek Kospi Samsung South Korea

South Korean chipmakers rallied as risk appetite returned after last month’s rout and traders weighed a local media report that Singapore’s Temasek Holdings Pte plans to invest in Samsung Electronics Co. and SK Hynix Inc.

Shares of the chip duo briefly extended gains to more than 8% after Asia Business Daily reported that the state fund plans to invest directly in the two chipmakers through its internal investment team, and is mulling timing. Samsung ended the day up 6.7% while SK Hynix rose 5.5%. The benchmark Kospi gained 3.7%.

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