Asian tech stocks surge after SK hynix reports record profit

Operating profit

632 % rise, third quarter

SK hynix said third-quarter operating profit soared 632 per cent to US$62.8 billion, its sixth straight quarter of record revenue and profit.

SK hynix shares rose almost 9 per cent and Samsung, which reports Thursday, gained more than 8 per cent, lifting Seoul's Kospi index more than 6 per cent.

The rally followed Anthropic's IPO filing, which said first-half revenue surged about 1,300 per cent. Microsoft and Alphabet report later Wednesday.

What's next

The US Federal Reserve is expected to hold rates steady Wednesday, with markets pricing in a rate hike in December.