Samsung Electronics and SK Hynix saw significant gains in pre-market trading, reflecting a recovery in investor sentiment towards the semiconductor sector.
As of 8:25 a.m. on June 9, Samsung Electronics was trading at 314,000 won, up 6.26% from the previous day. SK Hynix also rose by 8.06%, reaching 2,065,000 won.
This surge is attributed to a rebound in semiconductor stocks on the U.S. market the previous day. Investors are optimistic following Iran's announcement to halt attacks on Israel, easing tensions in the Middle East. This renewed appetite for risk assets has led to increased buying in technology and semiconductor stocks, which had recently experienced sharp declines.
On June 8, the Dow Jones Industrial Average fell by 0.16%, while the S&P 500 and Nasdaq indices rose by 0.30% and 0.86%, respectively.
Notably, semiconductor stocks showed strong rebounds. Micron surged by 9.87%, with KLA rising 9.27%, Applied Materials up 8.64%, Lam Research increasing by 6.98%, ASML gaining 6.54%, and AMD climbing 5.14%. NVIDIA also rose by 1.73% amid expectations of expanded AI collaboration with Korean companies, while Intel jumped 11.19% on speculation of a partnership with Google.
The Philadelphia Semiconductor Index (SOX) rebounded by 5.61% after a previous drop of 10.26%. Domestic market indicators also showed strength, with the MSCI Korea Index ETF rising by 5.96% and the KOSPI 200 night futures up by 5.47%.
In the foreign exchange market, signs of reduced risk aversion emerged. The won-dollar exchange rate, which closed at 1,535.00 won, fell to 1,526.50 won in overnight trading, while the one-month non-deliverable forward (NDF) rate was recorded at 1,526.30 won.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The U.S. stock market rebounded, particularly in semiconductor stocks. On June 9, the domestic market is expected to recover from the previous day's sharp declines, led by oversold sectors like semiconductors."
Seo Sang-young, a researcher at Mirae Asset, noted, "The domestic market is likely to experience a mix of bullish expectations due to stability in Iran and profit-taking following the previous day's drop."
* This article has been translated by AI.
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