[Featured Stock] Samjeon Returns to '50,000 Electronics'... SK Hynix Also Down 3%

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] On the 10th, Samsung Electronics and SK Hynix recorded a 2-3% decline in the early trading session. It is interpreted that the negative impact from the US Micron is also affecting the Korean stock market.

As of 9:57 a.m. on the 10th, Samsung Electronics is trading at 58,800 KRW, down 2% from the previous trading day. At the same time, SK Hynix is also pointing to 92,000 KRW, down 3.26% from the previous trading day.

Samsung Electronics saw its price fall below 60,000 KRW during the previous day’s session but barely closed at 60,000 KRW, defending the '60,000 KRW electronics' level; however, it has fallen again after just one day. SK Hynix has also been on a continuous decline since its closing price fell below 100,000 KRW on the 28th of last month.

The day before, Micron lowered its guidance, stating that its Q3 revenue is expected to fall short of the June forecast (6.8 billion to 7.6 billion USD). As a result, the Philadelphia Semiconductor Index in the US stock market dropped 4.57%, pulling down the stock prices of semiconductor-related companies.