SK Hynix Plummets 14%, Largest Drop in 17 Years; Samsung Electronics Falls 9%

Samsung Electronics and SK Hynix saw sharp declines of 9% and 14%, respectively, on July 2.
On the KOSPI market, Samsung Electronics closed at 286,000 won, down 9.06%.
This level is 23.6% lower than its previous peak of 374,500 won, recorded on the KOSPI market on June 19.
Samsung Electronics opened at 290,000 won, down 7.79%, and fell as low as 281,500 won during the session, losing both the 300,000 won and 290,000 won marks.
SK Hynix closed at 2,187,000 won, down 14.57% from the previous trading day.
This is a 26.8% decline from its previous peak of 2,987,000 won on June 25.
According to the Korea Exchange, the decline in SK Hynix shares marks the largest drop in approximately 17 years since November 20, 2008 (-14.91%), during the global financial crisis.
SK Hynix opened at 2,351,000 won, down 8.16%, and closed at its intraday low.
The market capitalization of both companies also shrank.
Samsung Electronics' market cap stands at approximately 1,672 trillion won, while SK Hynix's is at approximately 1,558 trillion won.
The U.S. market capitalization research site companiesmarketcap.com reported that Samsung Electronics' market cap is 1.209 trillion dollars, ranking 12th among major global listed companies.
SK Hynix fell out of the 1 trillion dollar club with 999.8 billion dollars, dropping two spots from 14th to 16th place from the previous day.
Analysts suggest that the sharp decline in the two domestic semiconductor leaders was triggered by concerns over overinvestment in big tech in the New York stock market overnight, which led to a sell-off in artificial intelligence (AI)-related semiconductor stocks.
U.S. semiconductor companies such as Micron Technology (-10.57%) and SanDisk (-10.62%) saw significant drops, while AMD (-6.89%), Intel (-9.03%), and Nvidia (-1.25%) also trended downward.
The Philadelphia Semiconductor Index fell 6.27%.
On the KOSPI market today, foreign investors were the sole net sellers, offloading 4.4044 trillion won worth of shares.
Institutional investors were also net sellers, with a net selling volume of 2.0822 trillion won.
Conversely, individual investors were net buyers, purchasing 6.2661 trillion won worth of shares.
SK Hynix and Samsung Electronics were the top two stocks in terms of net selling by foreign investors that day.
Foreign investors net sold 1.668 trillion won of SK Hynix and 1.4765 trillion won of Samsung Electronics. (Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.