Samsung Electronics, SK Hynix Rally as US Chip Stocks Rebound
Summary
- Overnight gains in US semiconductor stocks helped Samsung Electronics rise more than 5% and SK Hynix jump more than 8%.
- The Philadelphia Semiconductor Index rose 5.21% and Micron Technology surged 12.17%, improving investor sentiment.
- Market focus is shifting to hyperscaler earnings announcements, with earnings from Alphabet, Microsoft, Meta and Amazon in focus.
Forecast Trend Report by Period
Samsung Electronics jumps more than 5%, SK Hynix more than 8%
Samsung Electronics Co. and SK Hynix Inc. were trading sharply higher early on July 22.
As of 9:25 a.m., Samsung Electronics was up 14,500 won, or 5.60%, at 273,500 won. SK Hynix gained 155,000 won, or 8.44%, to 1.991 million won.
The move followed an overnight rally in semiconductor shares on Wall Street that lifted investor sentiment. The Philadelphia Semiconductor Index rose 5.21%, while Micron Technology Inc. surged 12.17%.
Market attention is now turning to earnings from hyperscalers, or operators of massive data centers, which begin in earnest this week.
According to the financial investment industry, Alphabet Inc. is set to report earnings on July 22, followed by Microsoft Corp. and Meta Platforms Inc. on July 29 and Amazon.com Inc. on July 30.
Lee Su, Hankyung.com reporter, 2su@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.