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SK Hynix hit by profit-taking after quarterly earnings quadruple

South Korean chipmaker looking to swoop in on Toshiba spinoff

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SK Hynix headquarters in Seongnam, South Korea.   © Reuters

HONG KONG -- After a three-day winning streak, SK Hynix shares were retreating on Tuesday, with investors taking the company's brisk quarterly results as a cue to lock in gains.

Before the market opened, the leading South Korean chipmaker announced a 1.89 trillion won ($1.67 billion) net profit for the January-March term, up more than fourfold on the year. But investors had already taken the strong earnings into account over the previous three trading days, during which time the shares gained 5%.

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