As New York stocks plunged last week on concerns about interest rate hikes and led by semiconductor shares, Samsung Electronics and SK hynix were down 8% to 10% in premarket trading on the 8th.
As of 8:21 a.m. on the day, Samsung Electronics was trading at 296,000 won on the NEXTRADE (NXT) premarket, down 33,000 won (10.03%) from the previous closing price.
At the same time, SK hynix was being transacted at 1,887,000 won, down 183,000 won (8.84%).
This is seen as being influenced by the drop in New York stocks over the weekend on concerns about interest rate hikes by the U.S. Federal Reserve and declines led by semiconductor corporations.
The growth of U.S. semiconductor corporation Broadcom's AI Semiconductor business fell short of market expectations, and stronger-than-expected U.S. employment data added to rate pressures, analysts said. This is being cited as a factor dampening investor sentiment in Korea's large-cap semiconductor sector.
On the 5th (local time), New York's three major indexes—the S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite—fell across the board from the previous session. The Standard & Poor's (S&P) 500 stood at 7,383.74, down 2.64%. The Dow Jones and the Nasdaq Composite also fell to 50,866.78 and 25,709.43, down 1.35% and 4.18%, respectively.
The Philadelphia Semiconductor Index also plunged 10.3%, the biggest drop since April last year. Micron Technology fell 13.25%, and SanDisk and Western Digital dropped 11.39% and 11.06%, respectively. Intel and AMD also fell 11.28% and 10.86%.