Samsung Electronics and SK Hynix surged again in premarket trading, as stronger U.S. stocks, expectations of easing geopolitical risk in the Middle East and hopes for a reappraisal of the memory-chip cycle lifted sentiment.
As of 8:16 a.m. on May 7, Samsung Electronics was up 17,000 won, or 6.39%, at 283,000 won on the Nextrade premarket. SK Hynix rose 93,000 won, or 5.81%, to 1,694,000 won.
Overnight, U.S. markets advanced on expectations that an agreement on ceasefire talks between the United States and Iran was nearing. On May 6 (local time), the Dow Jones Industrial Average closed up 612.34 points, or 1.24%, at 49,910.59. The S&P 500 gained 105.88 points, or 1.46%, to 7,365.10, and the Nasdaq composite climbed 512.82 points, or 2.02%, to 25,838.94.
The S&P 500 and Nasdaq both set fresh record highs. With AI semiconductor shares led by Nvidia extending gains, buying also flowed into South Korea’s large-cap chipmakers.
Some analysts said the market’s reassessment of the memory sector is still in its early stages, arguing there is room for further gains even after Samsung Electronics and SK Hynix broke through record highs.
SK Securities on May 7 raised its target price for Samsung Electronics to 500,000 won from 400,000 won a month earlier, about 87% above the current price. It also lifted its target for SK Hynix to 3 million won from 2 million won, implying about 87% upside from the current share price.
* This article has been translated by AI.
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