Samsung Electronics, SK Hynix rise 1.58% and 0.91% as U.S. chip stocks rebound

  • Samsung Electronics and SK Hynix advanced in early trading Wednesday.
  • Samsung Electronics gained 1.58%, while SK Hynix rose 0.91% by 9:02 a.m.
  • KOSPI ended a five-session losing streak with a 1.37% gain on the 16th.

Samsung Electronics and SK Hynix rose in early trading Wednesday after a rebound in U.S. semiconductor stocks, extending gains recorded in after-market trading on the 16th. As of 9:02 a.m. on the 17th, Samsung Electronics was up 1.58% at 257,500 won, approximately $186, while SK Hynix gained 0.91% to 1,775,000 won, approximately $1,283. The previous day, Samsung Electronics rose 2.01% to 253,500 won and SK Hynix advanced 3.96% to 1,757,000 won. The KOSPI also rebounded 1.37% after five consecutive sessions of declines, while the KOSDAQ rose 0.44%. U.S. semiconductor shares provided support: Nvidia gained 0.82%, SK Hynix's ADR (U.S.-traded depositary receipt) edged higher, Western Digital rose 1.22%, Seagate added 1.47%, and the Philadelphia Semiconductor Index advanced 0.40%. Broader U.S. indexes fell as the 10-year Treasury yield and international oil prices climbed, while a Federal Reserve rate hike, the possibility of further increases this year and hawkish remarks from Fed Chair Kevin Warsh weighed on sentiment. A partial recovery in AI-related stocks limited declines in the S&P 500 and Nasdaq. Mirae Asset Securities analyst Seo Sang-young linked Nvidia's gain to Salesforce's unveiling of Kor, a CRM inference model built on Nvidia's Nemotron 3 Super, and said Bank of America reiterated buy ratings on Nvidia, AMD and Marvell Technology. The rally spread across South Korea's semiconductor value chain, although analysts said U.S. rate stability after the FOMC (Federal Open Market Committee) meeting remains key to determining whether investors increase exposure.

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