[Anchor]

The KOSPI has plummeted by nearly 8%, falling below the 8,000-point mark. Semiconductor stocks, including Samsung Electronics and SK Hynix, took a nosedive as concerns over a potential market peak resurfaced.

Min Kyung-ho reports.

[Reporter]

The lingering doubt that has shadowed the record-breaking rally of semiconductor companies is whether chips will truly sell as much as currently expected.

Consequently, whether hyperscalers—the largest consumers of semiconductors—might scale back their investments has become a matter of intense focus.

However, news emerged that Meta, one of these hyperscalers, plans to enter the cloud business by selling excess capacity from its existing data centers to external parties.

This sparked concerns that if AI resources are sufficient enough to be sold off, the demand for additional semiconductors might not be as strong as anticipated.

The Philadelphia Semiconductor Index, which tracks 30 major U.S. chip companies, fell by more than 6% early yesterday (July 2). The KOSPI also gave up the 8,000-point level, closing at 7,648, a sharp decline of 7.9%.

Samsung Electronics dropped by more than 9%, while SK Hynix plunged 14.57%, marking its largest single-day decline on record.

Reports that Apple is pursuing contracts with Chinese semiconductor firms due to rising memory prices further dampened investor sentiment.

While the market has recently seen frequent sharp drops driven by talk of a semiconductor peak, the prevailing view among experts is that it is still too early to conclude that the peak has passed.

[Interview: Han Ji-young, Research Analyst at Kiwoom Securities]
"Investors were looking for an excuse to take profits after the recent rally, and this served as a trigger or a pretext. I find it difficult to view this as a fundamental negative factor."

Analysts point out that Meta's plan to resell AI resources was already mentioned back in May when semiconductor stocks were surging. They add that factors confirming strong demand—such as rising memory prices, increased data center rental rates, and long-term supply contracts confirmed in Micron's recent earnings report—remain intact.

For now, Samsung Electronics' preliminary earnings release on the 7th and the listing of SK Hynix on the Nasdaq on the 10th are expected to be key variables for the domestic market.

However, as high volatility is expected to persist, experts are warning investors to exercise caution against hasty trading.

(Camera: Kim Se-kyung | Video Editing: Kim Jin-won)