Korea Hot Stocks-SK Hynix up on firmer chip prices
SEOUL Jan 16 (Reuters) - South Korea's main KOSPI share index was up 0.6 percent at 1,995.71 points as of 0055 GMT.
Stocks on the move on Wednesday include:
Shares in chipmaker SK Hynix Inc rose 2.7 percent after contract prices of computer memory chips jumped 10 percent in the first half of January amid tight supply and growing demand from PC makers.
Supply has tightened in recent months after chipmakers cut output of computer memory chips and increased production of more profitable mobile chips to ride a boom amid strong demand for smartphones and tablets.
"Contract chip prices are likely to rise further as they are still well below spot prices, which are on the rise, and computer manufacturers are replenishing their low inventory," said Kim Hyoung-sik, an analyst at Taurus Investment & Securities.
Contract prices of 2 gigabit DDR3 memory chips, mainly used in computers, rose 10.8 percent to $0.92 in the first half of January, according to price tracker DRAMexchange.
Despite the 10 percent rise in contract prices, they are still some 28 percent below spot prices, which has gained 19 percent in January after a 31 percent jump in December, according to analysts.
Shares in Samsung Electronics Co, the world's biggest memory chipmaker, also firmed up 0.6 percent. (Reporting by Miyoung Kim; Editing by Subhranshu Sahu)
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