Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
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Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
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Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
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U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
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China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
SK Hynix Outperforms Q3 Profit Estimates, Fueled by AI Chip Demand
SK Hynix Inc. announced a significant third-quarter profit, exceeding market expectations due to robust demand for its advanced memory chips used in artificial intelligence (AI) applications. The South Korean memory chip giant posted an operating profit of 7.03 trillion won ($5.07 billion) for the quarter ending September 30, surpassing Reuters’ forecast of 6.8 trillion won. This marks a notable recovery from a 1.8 trillion won loss the previous year.
Revenue Surge Driven by AI
The company’s revenue almost doubled to 17.57 trillion won, bolstered by the rising demand for memory in AI-driven sectors, particularly data centers. SK Hynix, a key supplier to AI frontrunner NVIDIA Corporation, attributed its earnings surge to the AI boom, as it manufactures advanced high-bandwidth memory (HBM) chips used in AI chipsets.
Strong HBM Sales Growth
SK Hynix reported a 70% quarter-on-quarter increase in HBM sales, with a 330% surge year-on-year. This growth allowed the company to outperform competitors such as Samsung Electronics Co Ltd (KS:005930) and Micron Technology Inc. In September, SK Hynix commenced mass production of its latest generation of HBM chips, the most advanced in the market.
Stock Performance in 2024
SK Hynix shares have surged nearly 38% in 2024, although they remain below record highs from earlier this year. The company's leadership in AI memory solutions continues to drive its market performance.
