[Featured Stocks] Samsung Electronics and SK Hynix Both Hit 52-Week Lows Early in Trading Session

[Asia Economy Reporter Myunghwan Lee] Samsung Electronics and SK Hynix hit new 52-week lows early in trading on the 22nd. This appears to be due to weakened investor sentiment following the U.S. Federal Reserve's decision to implement a third consecutive giant step (a 0.75 percentage point increase in the benchmark interest rate) the previous day.

As of 9:38 a.m. that day, Samsung Electronics was trading at 54,400 KRW, down 1.63% (900 KRW) from the previous trading day, breaking below the 55,000 KRW level. This surpassed the 52-week low of 55,000 KRW recorded the day before.

At the same time, SK Hynix was trading at 86,500 KRW, down 1.70% (1,500 KRW) from the previous trading day. SK Hynix also set a new 52-week low early in the session, falling to 86,200 KRW.

The decline appears to be influenced by concerns over the recent semiconductor market conditions, compounded by the Fed's decision on the 21st (local time) to implement a third consecutive giant step, which dampened investor sentiment. On the previous day in the U.S. stock market, major semiconductor stocks such as Intel (-1.69%), Micron (-1.38%), and AMD (-1.02%) also fell by more than 1%.