Samsung Electronics and SK Hynix, which fell over 4% the previous day, are showing gains of over 1% as U.S. Treasury yields stabilize and the New York stock market rebounds. The rise in semiconductor stocks is fueled by strong performance in the U.S. semiconductor sector and growing expectations for demand in artificial intelligence (AI) servers.
As of 10:20 a.m. on September 3, Samsung Electronics is trading at 253,750 won, up 3,250 won (1.30%) from the previous trading day, while SK Hynix is up 1.24% at 1,633,000 won. The previous day, Samsung Electronics closed down 4.02%, and SK Hynix fell 4.73%. However, both stocks are now benefiting from the stabilization of U.S. Treasury yields and the strength of semiconductor stocks.
On the New York Stock Exchange, the three major indices, which had declined for three consecutive trading days, all rebounded. The Dow Jones Industrial Average rose 0.56%, while the S&P 500 and the tech-heavy Nasdaq Composite increased by 0.46% and 0.45%, respectively.
Recently, the yield on the U.S. 10-year Treasury note surged to 4.821%, the highest level since November 2023, before easing to 4.793% by 3 p.m. local time, down 0.2 basis points from the previous close. The yield on the 30-year Treasury remained unchanged at 5.266%, while the 2-year yield fell by 0.8 basis points to 4.383%.
U.S. semiconductor stocks also contributed to the rise in domestic semiconductor shares. Dell, buoyed by increased annual revenue and profit forecasts due to expanding AI server demand, surged 15.81%. Other major semiconductor companies, including Nvidia (up 3.21%), Micron (up 2.43%), and Qualcomm (up 2.01%), also saw gains. SK Hynix's American Depositary Receipts (ADRs) rose by 2.61%, and the Philadelphia Semiconductor Index closed up 0.45%. Broadcom, however, fell 0.66% despite reporting better-than-expected earnings after the market closed.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The stabilization of the U.S. 10-year Treasury yield and the improved expectations for AI server demand following Dell's earnings surprise have driven the market rebound. The domestic market is expected to see a rebound due to the influx of bargain buying after the previous day's decline of over 4%, the stabilization of U.S. Treasury yields, and the positive effects of Broadcom's earnings surprise."
* This article has been translated by AI.
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