SEOUL, Oct. 17 (UPI) -- Samsung Electronics and SK hynix emerged as the biggest winners on the Seoul bourse during the third quarter, thanks to a strong semiconductor market, according to Korean consultancy CXO Institute on Friday. The two firms are the world's top two memory chipmakers.
During the July-to-September period, the market capitalization of Samsung Electronics surged by more than $100 billion, maintaining its position as South Korea's most valuable company. SK hynix followed with an increase of $28.5 billion.
Riding on the mounting global demand for weapons, Korea's leading defense company, Hanwha Aerospace, ranked third with a $12 billion gain, followed by battery maker LG Energy Solution with $8.3 billion and shipbuilder Hanwha Ocean with $6.7 billion.
"During the third quarter, the South Korean stock market was bullish. In particular, sectors such as semiconductors, shipbuilding, rechargeable batteries and biopharmaceuticals did well," CXO Institute chief Oh Il-sun told UPI.
"The biggest winners were Samsung Electronics and SK hynix. As the memory chip market remains hot, the two corporations are expected to cruise well during the remainder of this year, too," he added.
