[Featured Stocks] How Low Will They Go... Samsung Electronics and SK Hynix Renew 52-Week Lows Again

[Asia Economy Reporter Myung-hwan Lee] Samsung Electronics and SK Hynix, the leading semiconductor stocks in Korea, continued their downward trend on the morning of the 26th, repeatedly hitting new 52-week lows early in the trading session.

As of 9:36 a.m. that day, Samsung Electronics was trading at 53,900 KRW, down 1.10% (600 KRW) from the previous trading day. Immediately after the market opened, Samsung Electronics fell to 53,600 KRW, marking a new 52-week low for the fourth consecutive trading day.

At the same time, SK Hynix was trading at 82,900 KRW, down 0.72% (600 KRW) from the previous trading day. SK Hynix also hit a new 52-week low early in the session, dropping to 81,500 KRW.

The outlook from the securities industry for Samsung Electronics and SK Hynix is also becoming more cautious. Eugene Investment & Securities lowered Samsung Electronics' target price from 83,000 KRW to 75,000 KRW on the same day. Researcher Seung-woo Lee of Eugene Investment & Securities stated, "Despite the launch of new foldable products, the MX division's performance is expected to improve only slightly," adding, "VD and home appliances are expected to show weaker results compared to the previous year."

Eugene Investment & Securities also downgraded SK Hynix's target price from 130,000 KRW to 110,000 KRW. Researcher Lee analyzed, "Unless there is a dramatic improvement in the NAND market conditions, it is expected to pose a significant burden on future earnings recovery."