US Chip Selloff Sends Samsung, SK Hynix Down More Than 10% in Nextrade Premarket

Samsung Electronics and SK Hynix both posted double-digit losses in Nextrade's premarket session on Nov. 6 as a sharp U.S. semiconductor selloff spilled into South Korea's chip heavyweights.

Samsung Electronics fell 10.7% and SK Hynix 13.1%.

Samsung Electronics traded at 180,000 won, down 21,500 won, or 10.67%, from Nextrade's reference price. SK Hynix fell 165,000 won to 1,099,000 won as of 8:30 a.m., a drop of 13.05%.

Losses were steeper earlier in the session. Samsung Electronics at one point fell to 175,300 won, while SK Hynix slid to 1.07 million won. That left them down about 13% and 15.35%, respectively, from their Nextrade reference prices.

U.S. semiconductor stocks came under pressure overnight on concern that spending on artificial intelligence could slow. The Nasdaq Composite closed at 24,315.00 on Nov. 5, down 5.52%. The Philadelphia Semiconductor Index also tumbled about 12%.

Concerns grew that expansion of AI infrastructure could face constraints after Democrats won control of both chambers in the midterm elections and candidates opposed to data-center construction were elected. Doubts also deepened over whether major technology companies that have committed massive capital spending can generate sufficient returns.

That caution appeared to spill over to Samsung Electronics and SK Hynix, which had been viewed as beneficiaries of rising AI investment, adding to selling pressure even before the regular trading session opened.