With major semiconductor corporations rebounding on the New York stock market, Samsung Electronics and SK hynix were also strong early on the 6th.
Samsung Electronics shares traded at 102,400 won at 9:08 a.m. on the KOSPI market. The stock rose 1.79% (1,800 won) from the previous day. At the same time, SK hynix was at 599,000 won, up 3.45% (20,000 won). It climbed as high as 606,000 won, briefly reclaiming the intraday "600,000-nix" in just one day.
The Philadelphia Semiconductor Index rose 210.69 points (3.02%) overnight to close at 7,190.27. While "bellwether" Nvidia (NVDA) dipped a little over 1%, most names were strong, with Micron Technology (MU) gaining more than 8%.
After tumbling the previous day on growing concerns that valuations for artificial intelligence (AI)-related corporations had become too elevated, dip-buying flowed in and recouped the losses.
Still, with sell orders reappearing late in the session, some analysts said caution in the market remains high. Phil Blancato, chief market strategist at U.S. asset management corporation Osaic, said, "There are winners and losers in the AI space, and with valuations stretched, investors must be very careful about where to put AI-related money from here."