Samsung Electronics and SK hynix gain in afternoon trading... Strong exports lift semiconductor stocks [Stocks Now]

[Financial News] Large-cap semiconductor stocks, which were flat early in the session amid concerns about U.S. interest rate hikes, rebounded in the afternoon, buoyed by strong exports.
According to the Korea Exchange, as of 1:11 p.m. on the 11th, Samsung Electronics was trading at 205,000 won, up 6,100 won (3.07%) from the previous trading day.
SK hynix was also trading at 1,279,000 won, up 67,000 won (5.53%).
The two stocks opened lower early in the session amid concerns about a U.S. half-point rate hike, but later turned higher and extended their gains. Semiconductor stocks were broadly higher across both the KOSPI and KOSDAQ, including HANMI Semiconductor (5.36%), Jusung Engineering (12.48%), ISU Petasys (18.05%), SIMMTECH (8.26%), Techwing (19.31%) and WONIK IPS (11.55%). 
The rebound in semiconductor stocks is believed to have been driven by strong exports. According to the Korea Customs Service, exports from the 1st to the 10th of this month totaled $33.5 billion on a provisional customs-clearance basis. That was up 111.9% from the same period last year and a record for November 1–10. Compared with exports for the first 10 days of each month, it was also the second-highest figure, behind September’s $35.1 billion. Cumulative exports this year are also nearing $1 trillion for the first time ever.
Semiconductors led the overall growth in exports. Semiconductor exports from the 1st to the 10th of this month totaled $16.6 billion, surging 331.2% from the same period last year. That was a record for the period and the highest growth rate among major export items. Semiconductors’ share of total exports also rose to 49.7%.


[email protected] Joo Won-gyu Reporter