Summary
- It said Samsung Electronics and SK Hynix were under pressure in early trading after a decline in U.S. technology shares weighed on sentiment.
- It said AI infrastructure beneficiaries including Samsung C&T, SK Square, Samsung Electro-Mechanics, Gaon Cable and LS ELECTRIC were also falling.
- It said sentiment toward semiconductor stocks weakened after April U.S. consumer price index (CPI) data topped expectations and surging bond yields and oil prices compounded the pressure.
Forecast Trend Report by Period
Samsung Electronics Co. and SK Hynix Inc. fell in early trading on May 13 as a drop in U.S. technology shares chilled investor sentiment.
As of 9:06 a.m., Samsung Electronics was trading at 265,000 won, down 14,000 won, or 5.02%, from the previous session. SK Hynix fell 2.13% to 1.797 million won.
Samsung C&T Corp. and SK Square Co., which had recently rallied as the value of their stakes in Samsung Electronics and SK Hynix came into focus, were also down 5.4% and 2.13%, respectively.
Other beneficiaries of the artificial intelligence infrastructure boom also declined, including Samsung Electro-Mechanics Co. Ltd. (-1.15%), Gaon Cable Co. (-5.67%), LS ELECTRIC Co. Ltd. (-4.33%), Sanil Electric Co. Ltd. (-4.17%) and HD Hyundai Electric Co. Ltd. (-3.59%).
The moves followed sharp losses in semiconductor stocks on Wall Street overnight, with the Philadelphia Semiconductor Index down more than 3%.
Investor appetite for chip shares weakened after U.S. April consumer price index data came in above expectations, sending bond yields sharply higher. Uncertainty over negotiations between the U.S. and Iran, which pushed oil prices back above $100 a barrel, added to the pressure.
Noh Jung-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.
