Business · Markets · 35 mins ago
Samsung Electronics and SK Hynix shares fall after US market losses
On Nov.
11, Samsung Electronics and SK Hynix shares fell in early trading in South Korea.
At 9:23 a.m.
local time, Samsung was down 0.65% and SK Hynix was down 1.16%.
The declines followed losses across major US stock indexes overnight, including a 0.74% drop in the Nasdaq.
US inflation in October was higher than expected, and a Federal Reserve official raised the possibility of a large interest-rate increase, adding to investor worries about borrowing costs.
Semiconductor stocks also faced concern about possible tighter regulation, but the sector’s losses were limited; after the US market closed, cloud-computing company CoreWeave reported stronger-than-expected sales and raised its annual revenue forecast.
Foreign investors were selling Korean technology shares, while local individuals and institutions were buying, and the two companies’ share prices continued to seek direction.
Samsung Electronics and SK Hynix shares fell in early trading in South Korea on Nov. 11 after US stock indexes declined overnight.
At 9:23 a.m. local time, Samsung was down 0.65% at 197,600 won and SK Hynix was down 1.16% at 1.198 million won.
The Dow Jones Industrial Average fell 0.30%, the S&P 500 dropped 0.38% and the Nasdaq Composite lost 0.74%.
Investor sentiment was weighed down by US inflation above expectations and comments by Federal Reserve governor Christopher Waller about a possible half-percentage-point rate increase.
The Philadelphia Semiconductor Index also fell, amid concerns that semiconductor-related regulations could tighten.
- Who
- Samsung Electronics and SK Hynix, whose shares fell.
- What
- Both companies’ shares declined in early trading.
- When
- Nov. 11; prices were reported at 9:23 a.m. local time.
- Where
- South Korea’s stock market.
- Why
- US stocks fell overnight amid higher-than-expected inflation and concerns about a possible large interest-rate increase and tighter semiconductor regulations.
This story does not have two clearly opposing sides.
All three major US stock indexes fell, and the Philadelphia Semiconductor Index also declined.
Samsung Electronics shares were down 0.65% and SK Hynix shares were down 1.16%.
- Samsung Electronics
- Down 0.65% at 197,600 won at 9:23 a.m.
- SK Hynix
- Down 1.16% at 1.198 million won at 9:23 a.m.
- Dow Jones Industrial Average
- Down 0.30% overnight
- S&P 500
- Down 0.38% overnight
- Nasdaq Composite
- Down 0.74% overnight
- Philadelphia Semiconductor Index
- Down 0.36% overnight