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Investing.com -- South Korean semiconductor manufacturers, Samsung Electronics (KS:005930) and SK Hynix, have seen their shares rise, following the rise in shares of U.S. chip makers.
This comes in anticipation of the earnings report from Nvidia (NASDAQ:NVDA), a major player in the artificial intelligence chip industry, which has seen a 3.21% increase in its stock.
Samsung Electronics and SK Hynix, the two largest companies in Korea by market capitalization, have contributed to the rise of the benchmark Kospi by 1.9%, reaching its highest intraday level for this year.
Samsung, the leading memory-chip maker globally, saw its stock surge by as much as 4.1% on Wednesday. Meanwhile, SK Hynix, a provider of high-bandwidth-memory products to Nvidia, experienced a rise of up to 3.5%.
This upward trend in South Korean stocks reflects the strength seen in U.S. chip stocks on Tuesday. The tech-heavy Nasdaq index rose by 2.1%, and the PHLX semiconductor index increased by 3.4%. This rally was spearheaded by Nvidia, which saw its stock jump by more than 3% ahead of its quarterly earnings report on Wednesday.
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