ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

SK Hynix hit by profit-taking after quarterly earnings quadruple

South Korean chipmaker looking to swoop in on Toshiba spinoff

 (placeholder image)
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%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more