Samsung Electronics and SK hynix, the leading domestic semiconductor stocks, fell in early trading on the 5th.
As of 9:50 a.m. that day, Samsung Electronics was trading at 163,100 won, down 6,000 won (3.55%) from the previous session. SK hynix was also trading at 867,500 won at the same time, down 3.61%.
Overnight on Wall Street, concerns resurfaced about artificial intelligence (AI) being overvalued, and related stocks fell sharply. The fallout appears to have spread to Korea. The Philadelphia Semiconductor Index fell 4.36% the previous day, and AMD shares dropped more than 17%.
Seo Sang-young, a researcher at Mirae Asset Securities, said, "AMD delivered record results, but concerns were highlighted that uncertainty over sales to China and the expansion of custom in-house chips (ASICs) not only by Nvidia but also by big tech would hinder AMD's market share gains, leading to selling," and added, "As a result, investor sentiment toward semiconductor and AI theme stocks weakened."