Samsung Electronics Co. reported a better-than-expected 21 percent jump in earnings, dispelling investors' worst fears about the impact of weakening consumer demand and rising material costs on the $550 billion chip industry. The results from South Korea's largest company contributed to a rally in Asian stock markets Thursday. In Seoul, Samsung shares rose 3.2 percent, while shares of another memory chip maker, SK Hynix Inc. rose 2 percent. Taiwan Semiconductor Manufacturing Co. jumped 5% and United Microelectronics Corp. climbed 7.3%. The combined market capitalization of the four Asian chip makers in the first half of the day added about $30 billion in market value. A slight increase in Samsung sales offset weaker-than-expected operating profit, reflecting pressure on margins from rising inflation.