SK Hynix dethrones Samsung Electronics as South Korea's most valuable company (updated)

Samsung Electronics Co

Mon 05:04

SEOUL, June 22 (Reuters) - The market value of South Korean chipmaker SK Hynix 000660.KS briefly topped that of peer Samsung Electronics 005930.KS on Monday to make it the country's most valuable firm.
Shares of SK Hynix, now the world's most valuable memory chipmaker, traded up 5.7% to bring the company's market capitalisation to 2,082.5 trillion won ($1.35 trillion) as of 0347 GMT, compared with gains of 0.4% in Samsung Electronics to 2081.3 trillion won, excluding preferred shares. 
Samsung Electronics had held the top spot since 2000.
South Korean chipmakers have posted record profits, benefiting from the rush to build AI data centres by U.S. tech giants that have boosted demand for memory chips, constrained supply and driven up prices.
SK Hynix shares have risen more than 340% this year alone, outperforming Samsung's 200% jump.
In May, SK Hynix joined rivals Samsung Electronics and Micron Technology in topping $1 trillion ​in market value for the first time, driven by the AI rally.

 (Reporting by Hyunjoo Jin; Editing by Kevin Buckland)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))