Samsung Electronics and SK hynix tumble again; KOSPI falls more than 3% in early trading to the 6,400 level [Morning Market Update]

[Financial News] The KOSPI fell more than 3% in early trading and slipped to the 6,400 level. After Samsung Electronics plunged the previous day, selling pressure has again concentrated on Samsung Electronics and SK hynix as semiconductor stocks, including NVIDIA Corporation and Micron Technology, fell across the board on Wall Street overnight.
As of 9:14 a.m. on the 25th, the KOSPI stood at 6,462.12, down 234.84 points, or 3.51%, from the previous session. The index opened down 2.40% at 6,535.93, then widened its losses and fell as low as 6,457.03 during the session. Only 136 stocks were higher, while 715 declined.
The losses are especially pronounced among large-cap stocks. At the same time, the large-cap index was down 3.68%. That decline is steeper than those of the mid-cap index, which fell 1.99%, and the small-cap index, which dropped 1.27%.
Samsung Electronics and SK hynix are dragging the index lower. Samsung Electronics was trading at 247,500 won, down 3.70% from the previous session. During the day, it fell to as low as 246,000 won. It is weakening for a second straight day after plunging 8.70% the previous day.
SK hynix posted an even steeper decline. The stock was down 5.51% at 1,579,000 won. Its intraday low was 1,575,000 won. After falling 3.41% the previous day, it has declined for two consecutive sessions, slipping from 1,731,000 won at the close on the 21st into the 1.5 million won range.
Investor sentiment is being pressured by the broad decline in semiconductor stocks on Wall Street overnight. The Philadelphia Semiconductor Index (SOX) plunged 2.70%, while Micron Technology fell more than 5% and NVIDIA Corporation dropped more than 2%. Major chip stocks such as Broadcom and TSMC also weakened.
Selling pressure on large semiconductor names, which rattled the domestic market the previous day, also appears to be continuing. On the previous day, Samsung Electronics closed at 257,000 won, down 8.70%, while SK hynix ended at 1,671,000 won, down 3.41%. With both stocks weak, the KOSPI also finished the session down 3.12% at 6,696.96. Foreign investors sold a net 368.82 billion won in the Korea Exchange Main Board, while institutions sold a net 129.25 billion won.
Samsung Electronics and SK hynix recently announced large-scale shareholder return plans, but in the short term they have not been able to offset deteriorating sentiment toward semiconductors or profit-taking pressure. Samsung Electronics in particular widened its losses after the market judged that the size and structure of its shareholder return plan fell short of elevated expectations. The stock was then hit again by the sharp drop in U.S. semiconductor shares.
SK hynix is also failing to escape the broader weakness in global semiconductor stocks, despite expectations for supply and demand support from its 40 trillion won share buyback and cancellation plan. With volatility rising across AI and semiconductor stocks ahead of NVIDIA Corporation's earnings release, Samsung Electronics and SK hynix are expected to steer the direction of the KOSPI for the time being.
[email protected] Choi Du-seon Reporter