Samsung Electronics and SK Hynix have quickly rebounded from early declines in trading. Samsung Electronics turned positive despite the dividend ex-date, while SK Hynix saw a reduction in its losses due to bargain-hunting.
According to the Korea Exchange, as of 2:09 PM, Samsung Electronics was trading at 271,000 won, up 0.37% from the previous trading day.
Samsung started the day at 266,000 won, down 1.48%, but quickly recovered its losses and turned positive. Given that today is the ex-dividend date for Samsung's third-quarter dividend, this performance is considered robust. Typically, there is selling pressure on ex-dividend dates as the right to receive dividends expires.
At the same time, SK Hynix was trading at 1,748,000 won, down 1.13% from the previous day. After an initial sharp drop, it fluctuated throughout the session, reducing its losses. Foreign brokerage firms, including Morgan Stanley and Goldman Sachs, were among the top sellers.
Despite a weak performance for semiconductor stocks in the U.S. market overnight, the perception that the previous day's sharp declines in domestic semiconductor stocks were excessive led to a rebound in buying. On the previous day, Samsung Electronics and SK Hynix fell by 5.43% and 5.05%, respectively.
The U.S. stock market declined across the board due to rising oil prices and Treasury yields amid tensions between the U.S. and Iran. The Dow Jones Industrial Average fell by 0.67%, the S&P 500 dropped by 0.77%, and the Nasdaq Composite decreased by 0.92%. The Philadelphia Semiconductor Index also fell by 1.61%.
The yield on the U.S. 10-year Treasury note surged to 5.241%, the highest level since June 2007. While high interest rates have pressured investor sentiment in semiconductor stocks, the attractiveness of prices following the previous day's declines has led to a flow of bargain-hunting into major domestic semiconductor stocks.
* This article has been translated by AI.
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