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Abu Dhabi, UAEMonday 17 December 2018

Samsung Electronics shares jump on expected record third-quarter memory chip profit

The stock rose 4.5 per cent after the market opened in Seoul on Tuesday

A customer stands near the Samsung logo during a Galaxy Note 8 consumer launch event in Jakarta, Indonesia. Beawiharta / Reuters
A customer stands near the Samsung logo during a Galaxy Note 8 consumer launch event in Jakarta, Indonesia. Beawiharta / Reuters

Shares in Samsung Electronics rose 4.5 per cent after the market opened in Seoul on Tuesday, as analysts expected the tech giant to announce record profits in memory chips for the July to September quarter.

Samsung shares marked their biggest intraday percentage gain since October 2016 as of 0009 GMT.

Shares in SK Hynix, the world’s second-largest memory chip maker after Samsung Electronics, also jumped as much as 4.3 per cent, their biggest intraday percentage gain since August 14.

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