Samsung Electronics and SK Hynix are fluctuating in a narrow range in early trading. Despite a sharp decline in semiconductor stocks on the U.S. market overnight, perceptions that some negative factors were already priced in due to previous declines have led to an influx of bargain buying.
According to the Korea Exchange, as of 9:57 a.m. on September 15, Samsung Electronics was trading at 250,000 won, up 1,000 won (0.40%) from the previous trading day. At the same time, SK Hynix was up 5,000 won (0.29%), trading at 1,702,000 won.
U.S. markets fell across the board overnight. The Dow Jones Industrial Average and the S&P 500 dropped by 0.29% and 0.48%, respectively, while the Nasdaq Composite fell by 0.56%.
The surge in international oil prices was driven by concerns over supply disruptions following Saudi Arabia's closure of the key East-West pipeline. Additionally, ahead of the Federal Reserve's interest rate decision, the yield on the U.S. 10-year Treasury note surpassed 5%, putting pressure on investor sentiment.
Concerns about the pace of growth in the artificial intelligence (AI) sector also weighed on technology stocks. Nvidia and Micron Technology saw declines of 3.36% and 5.25%, respectively, while the Philadelphia Semiconductor Index plummeted by 5.86%. SK Hynix's American Depositary Receipts (ADRs) also fell by 7.60%.
However, there is a perception that the external negative factors have already been largely reflected in the stock prices of Samsung Electronics and SK Hynix, which had already experienced significant declines the previous day. The influx of bargain buying due to the expanded drop has resulted in a lack of clear direction in early trading.
* This article has been translated by AI.
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