Shares of Samsung Electronics and SK hynix, Korea's leading semiconductor stocks, halted their climb and were weaker in early trading on the 17th.
As of 9:25 a.m., SK hynix was trading at 3,380,000 won, down 10,000 won (2.87%) from the previous session. Samsung Electronics was trading at 779,000 won at the same time, down 15,000 won (1.89%) from the previous session.
Shares of Samsung Electronics and SK hynix moved higher in tandem with the Korea Composite Stock Price Index (KOSPI) rally, setting new 1-year highs the day before. In particular, Samsung Electronics closed higher for seven straight sessions from the 8th to the day before, fueling expectations that it could reclaim the "800,000 won Samsung" level.
However, the gain appears to have stalled as profit-taking followed the short-term surge, and as the U.S. New York stock market paused ahead of the September Federal Open Market Committee (FOMC) results overnight.
Han Ji-young, a Kiwoom Securities researcher, said, "With the September FOMC results imminent, the market may show wait-and-see trading during the session due to the spread of caution and profit-taking."