On the 3rd morning, Samsung Electronics and SK hynix shares were both up more than 5%. This is seen as the result of bargain hunting after the sharp drop the previous day.
As of 9:11 a.m. that day, Samsung Electronics was trading at 158,600 won, up 8,200 won (5.45%) from the previous day on the Korea Exchange. SK hynix at the same time was at 878,000 won, up 48,000 won (5.78%).
It is seen as being driven by the growing view that uncertainty over Kevin Warsh, cited as a factor behind the previous day's plunge as the next chair of the U.S. Federal Reserve (Fed), was excessive, and by Palantir's surprise earnings, which eased some concerns about artificial intelligence (AI) profitability.
In addition, bargain hunting after Samsung Electronics and SK hynix plunged 6.29% and 8.69%, respectively, the previous day also appears to have contributed to the rebound in share prices.
As the No. 1 and No. 2 market cap semiconductor bellwethers rebounded together, the KOSPI index also opened at 5,114.81 on the morning of the day, up 3.34%.