With a decline led by tech stocks standing out in the U.S. market overnight, Samsung Electronics and SK hynix also turned weaker early on the 5th.
As of 9:27 a.m. that day, Samsung Electronics was trading at 99,600 won, down 5,300 won (5.05%) from the previous session. SK hynix was also down 35,000 won (5.97%) at 551,000 won.
It appears to reflect a plunge centered on IT and AI-related stocks in the U.S. market the previous day. Palantir reported last quarter revenue of $1.18 billion, beating the market consensus of $1.09 billion, but its share price instead tumbled nearly 8%. Tesla fell 5.15% and Nvidia dropped 3.96%, as tech stocks broadly weakened.
Experts said the recent sharp rally suggests a correction phase is likely for the time being. David Solomon, chief executive officer (CEO) of Goldman Sachs, said at a forum in Hong Kong that "there is a high possibility that the stock market will see a correction of around 10% to 20% within the next one to two years."