SK Hynix Plunges 10% to Close at '1.43 Million Hynix,' Samsung Electronics Down 7.4%

Samsung Electronics and SK Hynix finished regular trading today (October 13) with sharp declines of around 7% and 10%, respectively.

On this day in the KOSPI market, Samsung Electronics closed down 7.39% from the previous session at 232,000 won.

Starting the session down 3.59% at 241,500 won, Samsung Electronics showed a sharp downward trend afterward, plunging at one point to 228,000 won (-8.98%).

SK Hynix plummeted 10.09% from the previous session to close at 1,443,000 won.

After opening at 1,538,000 won (-4.17%), SK Hynix similarly expanded its losses, and by the afternoon, its stock price dropped to as low as 1,425,000 won (-11.21%).

Overnight, New York stock markets closed mixed amid sluggishness in semiconductor stocks.

While the Dow Jones Industrial Average rose 0.38%, the S&P 500 fell 0.06%, the Nasdaq Composite dropped 0.44%, and the Philadelphia Semiconductor Index plunged 2.67%.,

The market downturn appears to have been fueled by negative factors over the weekend, such as Chinese semiconductor firm ChangXin Memory Technologies (CXMT) announcing plans to mass-produce within the year next-generation 4F-square structure DRAM, which significantly reduces cell size to enhance performance.

Although Samsung Electronics and SK Hynix had already plunged 4.4% and 4.5% respectively the previous day with the related bad news partly priced in, they could not avoid steep declines today as heavy foreign sell-offs continued amid severely contracted market liquidity.

Analysts also point out that a supply vacuum worsened the situation; as Samsung Electronics' treasury stock purchases for executive and employee stock compensation concluded and SK Hynix's treasury stock buybacks and cancellations neared their end, the buying strength of other corporations, which had solidly defended the stock price floor, weakened significantly.

In the KOSPI market today, foreign investors were net sellers alone, offloading 4.5259 trillion won.

Individuals and institutional investors were net buyers, purchasing 2.2271 trillion won and 1.6903 trillion won, respectively.

In the KOSPI electrical and electronic sector, which includes Samsung Electronics and SK Hynix, foreigners maintained a selling dominance with 4.2574 trillion won, while individuals and institutions were net buyers with 2.5817 trillion won and 1.0863 trillion won.

Other corporations managed a net purchase of only 574.5 billion won in the KOSPI electrical and electronic sector.

SK Hynix and Samsung Electronics ranked first and second respectively in net foreign selling on this day, with foreigners net selling 2.3613 trillion won worth of SK Hynix and 1.3595 trillion won worth of Samsung Electronics.

Conversely, institutional investors were the top buyers of SK Hynix (618.7 billion won) and Samsung Electronics (247.8 billion won) today.

According to U.S. market capitalization tracking site CompaniesMarketCap.com, SK Hynix's global ranking by market capitalization fell two notches from 17th to 19th due to today's stock price plunge.

However, Samsung Electronics' market capitalization ranking remained unchanged from the previous session at 12th.
※ Please note: This article was translated by AI and may contain errors.