Samsung Electronics and SK Hynix, which both experienced sharp declines, showed diverging trends in early trading on July 29. Samsung Electronics rebounded over 3% due to buying interest, while SK Hynix turned lower after failing to meet market expectations despite reporting record earnings.
According to the Korea Exchange, as of 9:40 a.m., Samsung Electronics was trading at 227,750 won, up 3.52% from the previous trading day. The stock opened at 226,500 won and surged to 234,000 won in early trading before giving back some gains but maintaining a strong performance. This rebound is attributed to buying interest following its recent sharp decline.
In contrast, SK Hynix was trading at 1,535,000 won, down 0.97% from the previous day at the same time. The stock opened at 1,567,000 won and rose to 1,619,000 won but subsequently reversed all gains and turned downward.
SK Hynix reported second-quarter revenues of 79.3187 trillion won and operating profit of 60.5426 trillion won, both record highs for a quarter, representing increases of 256.8% and 557.2%, respectively, compared to the same period last year.
However, despite these record results, they fell short of market expectations. According to financial information provider FnGuide, the consensus forecast was for revenues of 83.9194 trillion won and operating profit of 64.6941 trillion won, with actual results slightly below these figures.
Han Ji-young, a researcher at Kiwoom Securities, noted, "Given the recent adjustments, there is a need to pay more attention to the D램 and NAND supply outlook and the specifics of long-term supply contracts (LTA) during the conference call, as expectations for performance have been lowered."
Additionally, the continued weakness in U.S. semiconductor stocks has been cited as a factor dampening investor sentiment. The Nasdaq index, which is heavily weighted toward technology stocks, closed down 0.22% on the New York Stock Exchange. Semiconductor stocks also continued to decline, with Micron down 8.85%, AMD down 8.15%, Intel down 5.86%, Qualcomm down 4.21%, and Western Digital down 6.91%. The Philadelphia Semiconductor Index fell 4.49%, marking its fourth consecutive day of decline.
* This article has been translated by AI.
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