Samsung Electronics, SK hynix rise as U.S. chip stocks rally

Samsung Electronics Co. and SK hynix Inc. rose early Tuesday as U.S. artificial intelligence (AI) and semiconductor stocks gained overnight.

Shares of Samsung Electronics were trading 1.01 percent higher at 275,250 won ($202) as of 9:10 a.m., after opening 0.73 percent higher at 274,500 won. The stock climbed as much as 1.28 percent to 276,000 won.

SK hynix rose 2.44 percent to 1.808 million won after reaching as high as 1.811 million won, up 2.61 percent.

The gains followed strength in U.S. AI and semiconductor stocks despite pressure from rising Treasury yields. Investor sentiment was also boosted by an initial public offering (IPO) filing from Anthropic, which is planning a listing this year and outlined at least $518 billion in AI computing and infrastructure spending over the next decade.

Micron Technology Inc. and Meta Platforms Inc. rose 1.1 percent and 3.2 percent, respectively, while SK hynix’s U.S. depositary receipts closed 2.62 percent higher.

Foreign investors and institutions were net buyers of 58.9 billion won and 9.1 billion won, respectively on the main Kospi market, while retail investors sold a net 98.9 billion won.

Separately, the stocks of pipe-fitting makers rose sharply Tuesday after U.S. President Donald Trump said Korea would invest in an Alaska liquefied natural gas (LNG) project.

Shares of Taekwang Corp. rose 5.47 percent to 28,900 won, while those of Sung Kwang Bend Co. climbed 4.08 percent to 31,850 won.

Both companies manufacture fittings used to connect pipes. The stocks gained after reports of Trump’s remarks regarding Korea’s investment projects in the U.S.

Bloomberg, citing sources, reported that Trump was expected to unveil a $200 billion investment plan by Korea in the U.S. at the White House on Wednesday, local time. The announcement is expected to include a $54 billion investment in the Alaska LNG development project.

Meanwhile, Duksan Navcours surged nearly 95 percent above its IPO price in early trading Tuesday after making its Kosdaq debut.

The shares were trading at 28,450 won as of 9:06 a.m., up 94.86 percent from the IPO price of 14,600 won. They opened at 27,100 won and climbed as high as 28,700 won.

Founded in 2012, Duksan Navcours specializes in navigation and anti-jamming solutions for special-purpose applications and is a subsidiary of Duksan Hi-Metal Co.

The listing is also the first case in which a dual listing was exceptionally permitted under detailed rules introduced this year by financial regulators and the Korea Exchange, which generally prohibit dual listings while allowing limited exceptions.