U.S. semiconductor stocks have declined, leading to early losses for major technology shares in South Korea.
As of 8:24 a.m. on June 10, Samsung Electronics was trading at 309,500 won, down 3.88% from the previous day. SK Hynix also fell 4.65% to 2,112,000 won. LG Electronics and Naver saw declines of 3.83% and 3.89%, trading at 238,500 won and 247,000 won, respectively.
In the U.S. stock market, major indices closed mixed due to the poor performance of semiconductor stocks. On June 9, the Dow Jones Industrial Average rose 0.17% to finish at 50,872.11. In contrast, the S&P 500 dropped 0.26% to 7,386.65, while the Nasdaq Composite fell 0.97% to 25,678.82.
The semiconductor sector was particularly weak. Micron, which had surged over 10% the previous day, fell 1% on June 9, and Broadcom, which has experienced significant volatility recently, also declined by 1%.
Market analysts suggest that the upcoming IPO of SpaceX, scheduled for June 12, is contributing to investor caution. With an estimated valuation of around $1.75 trillion, the large IPO may prompt investors to sell existing assets to secure funds.
The combination of adjustments in U.S. semiconductor stocks and the pressure of a major IPO is leading to profit-taking in South Korea's stock market, particularly among semiconductor and technology shares.
* This article has been translated by AI.
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