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Samsung Electronics shares jump on expected record Q3 memory chip profit

Analysts expect Samsung Electronics to announce profits in memory chips for the July-September quarter
Reuters
Samsung shares marked their biggest intraday percentage gain since October 2016 as of 2.30pm. Photo: Reuters
Samsung shares marked their biggest intraday percentage gain since October 2016 as of 2.30pm. Photo: Reuters

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

Samsung shares marked their biggest intraday percentage gain since October 2016 as of 2.30pm.

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