Market Status: SK Hynix Reports Record Quarter, Sending Seoul to Sharp Gains

Seoul's stock exchange surges over 6% after SK Hynix reported a record quarter with revenues of $78.86 billion and operating profit of $62.82 billion, surpassing analyst expectations. The shekel weakens by about 1% against the dollar amid election results. On Wall Street, markets await the Fed's interest rate decision and reports from Microsoft and Alphabet.

Seoul's stock exchange surged sharply this morning by over 6%, following South Korean chipmaker SK Hynix's release of exceptionally strong third-quarter results. The company reported record profits, with revenues of $78.86 billion (growth of about 328% compared to the same quarter last year) and operating profit of $62.82 billion (growth of about 632%), significantly surpassing analyst expectations. Additionally, the company announced an allocation of over $25 billion for dividends and share buybacks. SK Hynix's own stock jumped over 10%, while Samsung's stock rose about 9%. In Europe, Tokyo's stock exchange rose about 1.2%, Hong Kong by 0.3%, and Shanghai by 0.7%. On Wall Street, futures are trading mixed, with attention focused on the Federal Reserve's interest rate decision this evening (expected to remain unchanged at 4%) and reports from Microsoft and Alphabet after the market close.