▲ Samsung Electronics and SK Hynix
Samsung Electronics and SK Hynix both declined today (September 11) as U.S. tech stocks slumped overnight amid rising oil prices and a surge in U.S. Treasury yields.
Samsung Electronics closed down 3.53% from the previous trading day at 259,500 won.
This marks a decline for the second consecutive day following yesterday.
During the session, it briefly plummeted as much as 4.65% to 256,500 won.
SK Hynix also finished the session down 2.21% at 1,812,000 won.
During intraday trading, it dropped as much as 4.59% to 1,768,000 won.
Overnight, major New York stock indices fell for the fourth consecutive day pressured by soaring oil prices and bond yields.
The Dow Jones Industrial Average fell 0.60%, while the S&P 500 and Nasdaq Composite indices declined 0.58% and 0.65%, respectively.
Although the August Producer Price Index (PPI) met expectations, certain components affecting the Personal Consumption Expenditures (PCE) price index—closely monitored by the Federal Reserve—came in high, heightening the possibility that the Fed might raise benchmark interest rates at the Federal Open Market Committee (FOMC) meeting scheduled for this month.
Consequently, the yield on 10-year U.S. Treasury bonds surpassed 4.95% during the session, reaching its highest level since October 2023.
International oil prices also rose due to concerns over prolonged warfare and crude oil supply disruptions.
West Texas Intermediate (WTI) crude futures for October delivery closed up 6.69% at $102.48 a barrel, while November Brent crude rose 6.34% to $107.63 a barrel.
Sell-offs centered around rate-sensitive tech stocks caused Nvidia and Micron Technology to drop 2.26% and 4.90%, respectively, while Intel plummeted nearly 6%.
SK Hynix's American Depositary Receipts (ADRs) also fell 5.20%.
As a result, investor sentiment toward domestic semiconductor stocks also shrank, triggering selling pressure.
In particular, foreign and institutional investors heavily unloaded shares of Samsung Electronics and SK Hynix on this day, dragging down their share prices.
Foreign investors net sold 912 billion won worth of Samsung Electronics and 1.073 trillion won worth of SK Hynix.
Hynix and Samsung Electronics ranked first and second, respectively, in net selling by foreign investors.
Institutions likewise sold 570 billion won of Samsung Electronics and 496 billion won of SK Hynix.
Samsung Electronics and Hynix claimed the first and second spots, respectively, in institutional net selling.
(Photo: Yonhap News)
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