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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  SK hynix, Inc.    A000660   KR7000660001

SK HYNIX, INC.

(A000660)
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SK hynix : South Korea November exports rebound but miss forecasts

11/30/2020 | 07:49pm EST

SEOUL (Reuters) - Brisk global demand for South Korea's memory chips helped fuel a 4% gain in its exports in November, bouncing back from a decline in October to signal a rebound from the pandemic-induced slump this year.

The rate of growth was less than expected, however, as analysts had expected a 6.8% jump from a year earlier. Exports stood at $45.81 billion, slightly above October's $44.90 billion, government data showed on Tuesday.

Sales of memory chips soared 16.4% on-year, continuing stellar growth trend as the nation's chipmakers including Samsung Electronics and SK Hynix post strong earnings.

The Bank of Korea on Thursday raised its gross domestic product forecasts for this year as it sees export growth to be better-than-expected to offset risks from a third wave of coronavirus infections.

"Strong sales of memory chips are leading the recovery but the pace of overall export growth could be somewhat slow until January due to the resurgence of the coronavirus across the U.S. and Europe," said Moon Jung-hui, an economist at KB Bank.

"We should see stronger pick-up in export growth from February or March, when virus concerns subside and vaccines get distributed." Of the nation's 15 major export items, shipments of 10 items, including memory chips, mobile devices, computers and cars increased in November.

Imports declined 2.1% to $39.88 billion, also missing forecasts for a 0.2% increase.

By destination, exports to China, South Korea's biggest trading partner, gained 1.0% on-year.

(Reporting by Cynthia Kim; Editing by Stephen Coates)

By Cynthia Kim


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG ELECTRONICS CO., LTD. -1.48% 86800 End-of-day quote.7.16%
SK HYNIX, INC. -2.28% 128500 End-of-day quote.8.44%
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Financials
Sales 2020 31 507 B 28,5 B 28,5 B
Net income 2020 3 713 B 3,36 B 3,36 B
Net Debt 2020 5 647 B 5,11 B 5,11 B
P/E ratio 2020 24,8x
Yield 2020 0,91%
Capitalization 87 894 B 79 464 M 79 544 M
EV / Sales 2020 2,97x
EV / Sales 2021 2,43x
Nbr of Employees 28 894
Free-Float 73,9%
Chart SK HYNIX, INC.
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SK hynix, Inc. Technical Analysis Chart | A000660 | KR7000660001 | MarketScreener
Technical analysis trends SK HYNIX, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 36
Average target price 147 986,11 KRW
Last Close Price 128 500,00 KRW
Spread / Highest target 40,1%
Spread / Average Target 15,2%
Spread / Lowest Target -28,0%
EPS Revisions
Managers and Directors
NameTitle
Seok-Hee Lee President, Chief Executive Officer & Director
Tae-Won Chey Chairman-Executive Board
Kwon Hong Managing Director & Head-Finance
Tae-Hoon Kim Managing Director & Head-Technology
Jung-Ho Park Director
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