As military tensions in the Middle East escalate, international oil prices and U.S. Treasury yields have surged, leading to a decline of over 2% in South Korea's semiconductor giants, Samsung Electronics and SK Hynix, during early trading.
According to the Korea Exchange, as of 9:38 a.m. on September 2, Samsung Electronics shares were trading at 254,000 won, down 7,000 won (2.68%) from the previous trading day. SK Hynix also saw a decline, with shares falling 42,000 won (2.48%) to 1,651,000 won.
On the New York Stock Exchange, all three major U.S. indices closed lower. The Dow Jones Industrial Average fell by 0.79%, while the S&P 500 dropped by 0.71%. The Nasdaq Composite Index decreased by 1.03%. Investor sentiment was dampened following the U.S. conducting additional airstrikes against Iran, which prompted retaliatory attacks from Iran.
International oil prices also spiked, with November Brent crude futures rising 4.60% to $94.65 per barrel, and October West Texas Intermediate (WTI) crude increasing by 5.20% to $90.22. The yield on the U.S. 10-year Treasury note continued to rise, reaching around 4.79%, the highest level since January 2025.
In this environment of high oil prices and interest rates, the Philadelphia Semiconductor Index fell by 2.14%. Notable declines included Micron (-2.64%), SanDisk (-1.90%), and Seagate (-1.42%). SK Hynix's American Depositary Receipts (ADRs) also dropped by 2.31%, adding downward pressure on domestic semiconductor stocks.
As a result of the weak U.S. market, South Korea's stock market is also experiencing declines. The KOSPI opened down 210.33 points (3.08%) at 6,625.47 but has slightly reduced its losses. The KOSDAQ index also opened lower, down 18.45 points (2.25%) at 802.80.
* This article has been translated by AI.
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