▲ Stock prices for the KOSPI, SK Hynix, and Samsung Electronics are displayed at the dealing room of the Hana Bank headquarters in Seoul on the 29th. As of 11:05 AM today, SK Hynix shares were trading at 1.414 million won, plunging 8.77% from the previous session.
The stock price of SK Hynix plummeted during trading today (the 29th), causing its market capitalization to fall below the 1 trillion won threshold.
According to Yonhap Infomax, the market capitalization of SK Hynix was tallied at 959.867 trillion won around 1:10 PM today.
This marks the first time in about three months since April 30 that the market cap of SK Hynix has dropped below 1 trillion won.
This decline was driven by the stock plunging by more than 15% compared to the previous trading day.
As a result, SK Hynix's share of the total KOSPI market capitalization contracted to 21.41%.
The market capitalization of KOSPI's top stock Samsung Electronics stood at 1,161.6556 trillion won, narrowly holding onto the 1 trillion won mark.
Samsung Electronics is also experiencing a share price drop of nearly 10%.
Its share of the KOSPI market capitalization is 25.92%.
With the sharp drop in market capitalization, the global market cap rankings of both companies have also slipped.
The U.S. market capitalization tracking website CompaniesMarketCap.com ranked Samsung Electronics 16th and SK Hynix 20th.
The share prices of both companies rose immediately after the market opened, but turned downward during the morning session and are widening their losses.
Due to the steep decline of the leading semiconductor duo, a sell-sidecar and circuit breakers were triggered consecutively in the main bourse.
(Photo: Yonhap News)
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