Samsung Electronics, SK Hynix Flat After Previous Day’s Plunge as Dip Buyers Emerge

Samsung Electronics and SK Hynix were trading near flat early Tuesday as bargain hunters moved in after the previous day’s sharp selloff, despite lingering concerns over a slower pace of artificial intelligence development and higher U.S. Treasury yields.

As of 9:10 a.m. on September 15, Samsung Electronics was down 0.2% from the previous session at 248,500 won. SK Hynix was up 0.12% at 1.699 million won. That was a marked improvement from the prior day, when Samsung Electronics and SK Hynix tumbled more than 4% and 7%, respectively.

U.S. semiconductor stocks fell broadly overnight as concerns persisted over the pace of AI development. Nvidia dropped 3.36%, while Micron fell 5.25%, Broadcom lost 4.77%, AMD declined 4.40%, Intel slid 5.59% and Marvell Technology Group sank 7.32%. SK Hynix’s American depositary receipt also fell 7.6%.

Calls within the AI industry to slow development have weighed on sentiment toward chip shares. Anthropic Chief Executive Officer Dario Amodei argued on September 12 that model development may need to slow to allow time to build safeguards against misuse. SpaceX CEO Elon Musk also expressed agreement.

A sharp rise in U.S. Treasury yields added to the pressure. The yield on the benchmark 10-year Treasury climbed as high as 5.014% intraday, the highest since October 2023. Even so, South Korean chip stocks were limiting losses as dip buying followed Monday’s steep declines.