On the morning of the 12th, the share price of Samsung Electronics, the No. 1 company by market capitalization on the KOSPI, hit a new 52-week high.
As of 9:54 a.m. on the 12th, Samsung Electronics is trading at 74,800 won on the Korea Exchange, up 1,400 won (1.91%) from the previous session.
In early trading, it touched 75,000 won, renewing its 52-week high. After climbing into the 70,000 won range on the 8th, the share price has risen for five straight sessions.
With expectations for U.S. rate cuts continuing, the strength of semiconductor-related stocks on Wall Street is providing a tailwind for the share price.
Overnight on Wall Street, the Philadelphia Semiconductor Index, led by tech stocks, rose 0.63%, extending gains for a sixth straight session. In particular, shares of Micron, the largest U.S. DRAM maker, finished up more than 7%.
Positive brokerage outlooks are also seen as spurring buying. Kim Dong-won, an analyst at KB Securities, said, "Next year, not only HBM but also supply of commodity DRAM will tighten, and an overall DRAM market shortage is expected in the second half," adding, "Samsung Electronics, which has secured ample production capacity, is expected to be the biggest beneficiary of next year's DRAM shortage."