Samsung Electronics, SK Hynix weaken in early trade…Supply-chain concerns mount as Middle East talks stall
Summary
- Samsung Electronics and SK Hynix were reported to be weakening in early trade amid a mix of expectations and caution over U.S.-Iran ceasefire talks.
- Micron and SanDisk fell 3.40% and 3.50%, respectively, extending their losing streak, with Micron down for five consecutive sessions.
- Concerns over a potential supply-chain squeeze stemming from Iran and the continuation of military strikes in the Middle East were said to be weighing on broader chip-sector sentiment.
Forecast Trend Report by Period
Samsung Electronics and SK Hynix are trading lower early on the 26th as expectations for and caution about U.S.-Iran ceasefire talks coexist.
As of 9:17 a.m., Samsung Electronics was down 4,900 won (2.59%) from the previous session at 184,100 won. SK Hynix was also trading down 3.12% at 964,000 won.
Overnight in New York, the Philadelphia Semiconductor Index, a basket of chip stocks, rose 1.21%. Memory makers Micron and SanDisk, however, fell 3.40% and 3.50%, respectively, extending their losing streak.
Micron has declined for five consecutive sessions. Despite posting record quarterly results last week, it was seen as falling short of market expectations, compounded by concerns that supply chains could be disrupted by developments linked to Iran.
Earlier, the White House spokesperson said in a briefing that talks with Iran were under way, adding support to market optimism.
Caution appears to have resurfaced, however, as Iran denied that it was negotiating with the U.S. and military strikes in the Middle East have yet to end.
Noh Jeong-dong, Hankyung.com reporter dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
