Samsung Electronics and SK Hynix are showing strong gains of 3-4% in early trading. This follows a surge in semiconductor stocks on U.S. markets and forecasts of a memory supply shortage, leading to increased buying interest in domestic semiconductor giants.
As of 9:24 a.m. on the Korea Exchange, Samsung Electronics was trading at 260,000 won, up 7,500 won (2.97%) from the previous trading day. SK Hynix also saw a rise of 76,000 won (4.36%), trading at 1,821,000 won. The stock started the day at 1,810,000 won and reached as high as 1,825,000 won in early trading.
The strength in semiconductor stocks is attributed to the rise of related stocks in the U.S. markets overnight.
On September 17, all three major indices on the New York Stock Exchange closed higher. The Dow Jones Industrial Average rose by 0.61%, while the S&P 500 and Nasdaq Composite increased by 1.14% and 1.69%, respectively.
Notably, semiconductor and artificial intelligence (AI) stocks led the gains. Micron surged by 5.50%, and SK Hynix's American Depositary Receipts (ADRs) rose by 4.64%. Nvidia also increased by 2.54%, and the Philadelphia Semiconductor Index climbed by 3.14%.
A decline in U.S. Treasury yields also supported a preference for riskier assets. The yield on the 10-year U.S. Treasury, which briefly exceeded 5% in the previous trading session, fell to the 4.9% range. International oil prices continued to decline as concerns over supply disruptions from Saudi Arabia eased somewhat.
Seo Sang-young, a researcher at Mirae Asset Securities, stated, "The U.S. stock market rose as it digested the hawkish results from the recent Federal Open Market Committee (FOMC) meeting, coupled with falling international oil prices and Treasury yields. In particular, semiconductor stocks, which had been sluggish due to recent calls for a slowdown in AI development, led the gains."
Han Ji-young, a researcher at Kiwoom Securities, analyzed the rise in the U.S. stock market, saying, "With the uncertainty surrounding Federal Reserve policy easing after the September FOMC, the 10-year Treasury yield fell below 5.0%. Favorable macro conditions were created by the recovery efforts of Saudi oil pipelines, leading to lower oil prices, and the bullish sentiment in semiconductor stocks like Micron and Nvidia, following Intel's CEO's comments on a projected memory supply shortage in 2027."
* This article has been translated by AI.
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