On the 4th, SK Hynix's stock price fell sharply in the stock market. The decline was directly influenced by the significant drop in U.S. semiconductor companies' stock prices, including Nvidia, following poor U.S. manufacturing economic indicators.
As of 9:22 a.m. that day, SK Hynix was trading at 156,400 KRW, down 7.13% from the previous day's closing price. The stock price plunged to the 150,000 KRW level shortly after the market opened but slightly recovered as bargain buying emerged.
The stock price of Nvidia, which has the greatest impact on SK Hynix's stock, closed down 9.53% on the Nasdaq on the 3rd (local time).
The U.S. ISM (Institute for Supply Management) manufacturing index signaled a worsening economy, raising concerns that investments related to artificial intelligence (AI) would shrink. The manufacturing PMI (Purchasing Managers' Index) for August rose 0.4 points from the previous month to 47.2. It has remained below 50 for five consecutive months since March this year, indicating an economic contraction phase.
Due to concerns over economic deterioration, semiconductor companies such as Nvidia, Intel (-9%), Micron and AMD (-8%), TSMC (-7%), and ASML (-6%) experienced significant declines. The Philadelphia Semiconductor Index, composed of major semiconductor stocks, fell by 8%.
A securities industry official diagnosed, "As the debate over the AI peak reignites, the plunge in Nvidia's stock price, a key customer of HBM (High Bandwidth Memory), is negatively affecting SK Hynix's stock price."
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