SK hynix has overtaken Samsung Electronics in market capitalisation for the first time, ending Samsung's long-held dominance on South Korea's KOSPI index. The milestone comes amid strong investor confidence in SK hynix's AI-focused memory business and the launch of its new 12-layer HBM4E chip, designed to power next-generation AI applications with improved performance and efficiency.
Seoul: Chip major SK hynix has surpassed Samsung Electronics in terms of market capitalisation for the first time, the bourse operator said on Monday.
The market capitalisation of SK hynix reached 2,091 trillion won ($1,358 billion) at 12:42 p.m., surpassing Samsung Electronics' 2,090 trillion won, according to the Korea Exchange (KRX), reports Yonhap news agency.
It marked the first time that Samsung Electronics has given up its throne on the benchmark Korea Composite Stock Price Index (KOSPI) since steadfastly remaining at the top since 2000. It first ranked No. 1 in terms of market capitalisation in 1999.
Shares of SK hynix rose 6.15 percent to 2,934,000 won, while Samsung Electronics moved up 0.99 percent to 357,500 won.
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