Samsung Electronics CEO's declaration of "Samsung is back" ignites rally in Asian tech stocks

According to Golden Ten Data on January 2, Samsung Electronics Co. Co-CEO Kyung Kye-hyun quoted a client as saying "Samsung is back," which further fueled a broad rally in Asian tech stocks, with Samsung Electronics' share price posting its biggest gain in six months. The usually low-profile Kyung Kye-hyun's remarks ignited market hopes that South Korea's largest company is about to reach a supply agreement with Nvidia. Kyung Kye-hyun stated: "Our HBM4 demonstrates differentiated competitiveness, and has even received the evaluation from clients that 'Samsung is back'." As Samsung Electronics' share price surged, Asian tech stocks also had a strong day, with Biren Technology, a new AI chip company listed in Hong Kong, doubling its share price to lead the gains. The Korea KOSPI Index closed up more than 2%, finishing above 4,300 points for the first time. This week, data from South Korea showed that the country's semiconductor exports surged 43% in December, highlighting the key roles of Samsung and SK Hynix in the global AI boom. In addition, analysts from Yuanta Securities Korea and IBK Securities also raised their target prices for Samsung ahead of its preliminary earnings release next week.