Foreigners invest heavily in S Korean chipmakers, expect big boom

Seoul, Nov 18 : Share prices in South Korean chipmakers Samsung and SK hynix are expected to rise further as investors bet on a recovery in the memory chip market next year, analysts here have said.
The two largest chipmakers — Samsung Electronics and SK hynix — have been skyrocketing in recent weeks with foreigners’ buying spree.
SK hynix continued its rally on Tuesday after touching a nine-month high on the previous day. It climbed 0.1 percent to 98,100 won (US$88), extending its winning streak to six straight days.
Samsung fell 0.9 percent to close at 65,700 won on Tuesday after soaring to a record high 66,300 won on the previous day.
The share price of Samsung was only 56,600 won on October 30, while that of SK hynix was 79,900 won.
Foreigners have been scooping up Samsung stocks in the last nine days. Foreigners have been also buying SK hynix shares in the last 10 days, reports Yonhap news agency.