Samsung Electronics and SK Hynix are experiencing declines in early trading. This downturn is attributed to a significant sell-off in U.S. semiconductor stocks and profit-taking activities that have dampened investor sentiment.
As of 9:40 a.m. on June 8, Samsung Electronics shares have dropped by 18,500 won (5.62%) to 310,500 won. SK Hynix has also seen a decrease of 85,000 won (4.11%), trading at 1,985,000 won. The weakness of these two stocks, which account for nearly half of the KOSPI's market capitalization, contributed to a drop in the index, which fell to 7,442.73, down 717.86 points (8.80%).
On June 5, U.S. markets saw an intensified sell-off in semiconductor stocks. The Philadelphia Semiconductor Index plummeted by 10.26%, marking its largest decline since March 2020. This drop is linked to concerns over reduced AI investments and valuation pressures following Broadcom's earnings report.
In South Korea, large-cap semiconductor stocks are also facing profit-taking after recent surges. Foreign investors have sold off more than 30 trillion won in Samsung Electronics and over 27 trillion won in SK Hynix over the past month, reducing their exposure to semiconductor stocks.
While analysts caution about potential short-term volatility, they maintain that demand for AI remains robust, suggesting no significant changes to long-term growth prospects. Meanwhile, market attention is shifting toward Oracle's earnings report, set to be released on June 10.
* This article has been translated by AI.
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