Samsung Electronics’s shares rise on expectations of record profits

Analysts are expecting Samsung’s memory chip business to be its cash cow.

On Tuesday, Samsung Electronics Co Ltd’s shares rose by 4.5% on analysts’ expectation that the world’s no. 1 memory chip maker will announce record profits for its memory chip business for the second quarter.

Samsung’s shares marked their biggest intraday jump since October 2016 as of 0009 GMT.

Shares of SK Hynix Inc, the world’s second-largest memory chip maker, also jumped by 4.3%, their biggest intraday gain since Aug. 14.

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