Samsung Electronics and SK Hynix Close Over 1% Higher After Shaking Off Early Morning Losses Driven by U.S. Cold Winds

Samsung Electronics and SK Hynix, which experienced relatively sharp declines in early trading due to cold winds originating from the U.S., finished their regular session with gains of over 1%.

Today (the 31st) on the KOSPI market, Samsung Electronics closed at 260,000 won, up 1.17% from the previous session.

Starting the day down 3.11% at 249,000 won, Samsung Electronics dipped as low as 246,000 won (-4.28%) right after the market opened, but steadily narrowed its losses before turning upward in the afternoon.

SK Hynix also finished up 1.27% from the previous session at 1,674,000 won.

SK Hynix likewise plunged to 1,577,000 won (-4.60%) in early trading, but subsequently displayed a steady upward trend.

The sentiment from Wall Street on the 28th, the final trading day of last week, carried over into the domestic stock market as New York stocks closed lower following hawkish (monetary tightening-favored) remarks by Federal Reserve Chair Kevin Warsh.

The Dow Jones Industrial Average fell 0.02%, the S&P 500 index declined 0.25%, and the tech-heavy Nasdaq Composite index dropped 0.52%.

In his keynote speech at the Jackson Hole Economic Symposium, Chair Warsh stated, "Looking at price stability, one of our mandates, the relevant indicators are in a more concerning situation," adding, "We must have confidence that underlying inflation is moving toward the target at a clear and sufficient pace. Otherwise, we have work to do."

Consequently, the possibility of a September rate hike was strongly highlighted, dampening investment sentiment. As artificial intelligence (AI) and semiconductor sectors fell across the board, the Philadelphia Semiconductor Index plummeted by 3.47%.

Reports that China's ChangXin Memory Technologies (CXMT) saw its first-half revenue surge 874% year-on-year also highlighted concerns that China's memory self-sufficiency and expanded supply of legacy DRAM could pressure the traditional pricing power of the big three—Samsung Electronics, SK Hynix, and Micron—affecting the share prices of large domestic stocks.

On this day in the KOSPI market, retail investors, foreigners, and institutions all recorded net selling.

Individual investors net sold 145.4 billion won, while foreigners and institutions were also net sellers at 640.3 billion won and 792.1 billion won, respectively.

In the KOSPI electrical and electronic sector, to which Samsung Electronics and SK Hynix belong, foreigners and institutions net sold 411.4 billion won and 915 billion won, while individuals also net sold 225.8 billion won.

Despite this, share prices rose due to the impact of large-scale treasury stock purchases by Samsung Electronics and SK Hynix.

Driven by the two companies' treasury stock purchases, other corporations, which have recently emerged as a major supply-and-demand entity, net bought 1.553 trillion won in the KOSPI electrical and electronic sector on this day.

Meanwhile, SK Hynix ranked first among stocks with the highest net selling by foreigners on this day.

Foreigners net sold 338.2 billion won worth of SK Hynix shares.

In the rankings of stocks with the highest institutional net selling, Samsung Electronics and SK Hynix also claimed the top two spots with 594.5 billion won and 509 billion won, respectively.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.