{"id":73725,"date":"2026-10-27T23:38:12","date_gmt":"2026-10-28T03:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/sk-hynix-earnings-spark-6-seoul-rally-while-philippine-markets-face-pressure\/73725\/"},"modified":"2026-10-27T23:38:12","modified_gmt":"2026-10-28T03:38:12","slug":"sk-hynix-earnings-spark-6-seoul-rally-while-philippine-markets-face-pressure","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/sk-hynix-earnings-spark-6-seoul-rally-while-philippine-markets-face-pressure\/73725\/","title":{"rendered":"SK Hynix Earnings Spark 6% Seoul Rally While Philippine Markets Face Pressure"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>South Korea\u2019s KOSPI surged nearly 6%<\/strong> on Wednesday, triggered by <strong>SK Hynix\u2019s<\/strong> record-breaking third-quarter earnings and a massive <strong>100 trillion won ($75 billion) shareholder return plan<\/strong>.<\/li>\n<li><strong>The Philippine Stock Exchange index (PSEi)<\/strong> fell under significant pressure, dropping as much as <strong>2%<\/strong> in recent sessions due to a record-low peso and persistent inflation concerns.<\/li>\n<li><strong>A magnitude 6.06 earthquake<\/strong> struck the <strong>Vanuatu Islands<\/strong> early Wednesday morning, according to the German Research Centre for Geosciences (GFZ), though no immediate tsunami warnings were issued.<\/li>\n<li><strong>AI-driven demand<\/strong> continues to reshape Asian tech markets, with <strong>SK Hynix<\/strong> reporting a sevenfold increase in operating profit, boosting sentiment for the entire semiconductor sector.<\/li>\n<\/ul>\n<h2>SK Hynix Earnings Drive Historic Seoul Rally<\/h2>\n<p>South Korean equities experienced a massive surge on Wednesday morning, with the benchmark <strong>KOSPI<\/strong> rising nearly <strong>6%<\/strong> to approach the <strong>6,000-point mark<\/strong>. The rally was ignited by SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>), which reported record-high quarterly revenue and an operating profit that surged over <strong>700%<\/strong> year-over-year.<\/p>\n<p>The chipmaker\u2019s announcement of a <strong>100 trillion won ($75.3 billion)<\/strong> shareholder return program for 2026 further fueled investor enthusiasm. The buying frenzy was so intense that the <strong>Korea Exchange<\/strong> briefly activated a &quot;sidecar&quot; mechanism to suspend buy orders in program trading after futures jumped more than <strong>5%<\/strong>.<\/p>\n<p>Other tech heavyweights followed suit, with Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>) advancing over <strong>7%<\/strong> as investors bet on sustained demand for high-bandwidth memory (HBM) used in artificial intelligence. This optimism was bolstered by positive cues from Wall Street and recent IPO filings in the AI sector, which have eased fears of a slowdown in tech spending.<\/p>\n<h2>Philippine Markets Struggle Amid Currency Weakness<\/h2>\n<p>In contrast to the tech-led rally in Seoul, the <strong>Philippine Stock Exchange index (PSEi)<\/strong> faced heavy selling pressure, with the benchmark index falling toward the <strong>5,600 level<\/strong>. Market sentiment has been severely dampened by the Philippine peso\u2019s plunge to a new all-time low, nearing <strong>P64 per US dollar<\/strong>.<\/p>\n<p>Investors are increasingly concerned that the weak currency will drive up <strong>imported inflation<\/strong> and force the central bank to maintain higher interest rates for longer. Additionally, a contraction in local infrastructure spending for <strong>14 consecutive months<\/strong> has raised red flags regarding the sustainability of domestic economic growth.<\/p>\n<p>While some bargain hunting was observed at lower levels, analysts warn that the outlook remains cautious. High bond yields and the looming <strong>Federal Reserve<\/strong> policy decision continue to keep many institutional investors on the sidelines.<\/p>\n<h2>Significant Earthquake Hits Vanuatu Islands<\/h2>\n<p>The <strong>German Research Centre for Geosciences (GFZ)<\/strong> recorded a <strong>6.06-magnitude earthquake<\/strong> in the <strong>Vanuatu Islands<\/strong> region at approximately 03:06 UTC on Wednesday. The tremor occurred at a depth of roughly <strong>10 kilometers<\/strong>, making it a relatively shallow event.<\/p>\n<p>There were no immediate reports of major damage or casualties from the island nation, which sits on the seismically active &quot;Ring of Fire.&quot; Authorities did not issue a widespread tsunami warning following the quake, though local officials continue to monitor coastal areas for unusual wave activity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korea\u2019s KOSPI surged nearly 6% on Wednesday, triggered by SK Hynix\u2019s record-breaking third-quarter earnings and a massive 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