"As the war winds down, an earnings rally is coming" SK hynix hits record high, breaks through 1.12 million won intraday

[The Financial News] Buoyed by the possibility of renewed negotiations between the United States and Iran and expectations of a first-quarter earnings surprise—results beating market forecasts—SK hynix broke through 1.12 million won and set a new record high.
According to the Korea Exchange (KRX) on the 14th, as of 10:43 a.m. SK hynix was trading at 1,117,000 won, up 7.40% from the previous session.
SK hynix opened at 1,092,000 won and extended its early gains, surpassing the previous intraday record high of 1,117,000 won set on February 26 and even touching 1,128,000 won, up 9.30%.
Brokerages expect SK hynix’s first-quarter results to beat the market consensus.
Kim Dong-won, Head of Research at KB Securities, said, "Server DRAM and enterprise solid-state drives (SSD) are driving memory price increases, and DRAM and NAND flash memory prices in the first quarter are projected to rise by around 70%." He added, "By segment, operating profit is estimated at 33 trillion won for DRAM and 7 trillion won for NAND flash memory, and second-quarter operating profit is expected to surge 552% year-on-year to 60 trillion won."
Buying interest also appears to have been fueled by optimism over a possible second round of talks between the United States and Iran. Over the weekend, the two countries held their first 21-hour round of ceasefire talks, but wrapped it up without reaching an agreement over issues such as reopening the Strait of Hormuz and the Iran nuclear issue.
However, comments by President Donald Trump that Iran had reached out and "desperately" wanted a deal further spurred buying in the market.
koreanbae@fnnews.com Bae Han-geul Reporter