Samsung Electronics and SK Hynix Plunge Nearly 5% in Early Trading Amid Foreign and Institutional Selling

Samsung Electronics and SK Hynix showed drops of around 5% in early trading on November 3.

On the main bourse, Samsung Electronics was trading down 4.91% from the previous session at 217,750 won as of 9:08 a.m.

At the same time, SK Hynix was changing hands at 1,393,000 won, down 5.37% from the previous session.

Merrill Lynch and JPMorgan were listed among the top selling brokerage windows for both stocks.

The downturn appears to be driven by a renewed slump in tech stocks on the New York Stock Exchange, triggered once again by concerns over the profitability of artificial intelligence investments.

The trigger was pulled after Oracle announced plans to issue 20 billion dollars in stock and bonds to fund AI infrastructure development, and Anthropic stated it plans to spend 895.4 billion dollars on future infrastructure purchases.

With the U.S. midterm elections just a day away, attention was also drawn to the possibility that regulations regarding AI data centers could be tightened depending on the election results.

Consequently, Nvidia (-1.26%), Microsoft (-2.83%), Broadcom (-1.18%), AMD (-7.52%), and Intel (-8.83%) fell in succession, leading the Philadelphia Semiconductor Index to close down 3.37%.

Meanwhile, as of this time on the main bourse, foreign investors and institutions were net sellers of 227.7 billion won and 94.2 billion won, respectively.

Individual investors were the sole net buyers, purchasing 309.9 billion won.

In the KOSPI electrical and electronic sector, which includes Samsung Electronics and SK Hynix, foreign investors and institutions also maintained a selling superiority with 217.6 billion won and 59.5 billion won, while individuals recorded a buying superiority with 266.3 billion won.
※ Please note: This article was translated by AI and may contain errors.