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Foreign investors are betting on a recovery in the memory chip market next year, pushing the share prices in South Korean chipmakers higher.
According to Choi Do-yeon, an analyst at Shinhan Investment Financial Investment, they expect to see a 'big cycle' next year on the recovery of demand and short supplies as there is almost no investment in 2020 for memory production in 2021.
SK hynix climbed 0.1 percent to 98,100 won, extending its winning streak to six straight days while Samsung dropped 0.9 percent to close at 65,700 won on Tuesday after surging to 66,300 won the day before.
The share price of Samsung was only 56,600 won on Oct. 30, while that of SK hynix was 79,900 won.
Until recently, memory chip prices have been dropping as server companies adjust their inventory levels.
Analysts said South Korean chipmakers are still undervalued, giving them more room to grow than other companies.
According to a KB Securities report, shares of Samsung managed to increase about 20 percent from the beginning of the year, while SK hynix only had a 3.5 percent increase from Jan. 2.
On the other hand, share prices of the top eight caps on the KOSPI have jumped more than 80 percent on average.
Considering their performance outlook for 2021 and low valuations, KB Securities analyst recommended investors to acquire such stocks in the fourth quarter.
