Samsung Electronics (005930.KS) and SK Hynix (000660.KS) surged more than 3% in early trading on August 10, buoyed by easing Federal Reserve rate hike concerns following weaker-than-expected US employment data and the ongoing artificial intelligence rally.<\/p>\n
As of 9:10 a.m. KST, the Kospi index had gained 104.92 points, or 1.68%, to 6,363.69. Retail investors led the charge with net purchases of \u20a9194.7 billion (approximately $138.3 million), while foreign and institutional investors were net sellers of \u20a9156.6 billion and \u20a943.4 billion, respectively.<\/p>\n
Market heavyweight Samsung Electronics traded around the \u20a9230,000 level, up 3% from the previous session, while SK Hynix also advanced 3% to the \u20a91.46 million range. Samsung Electro-Mechanics (009150.KS) surged 5%. The Kosdaq index rose 15.77 points, or 1.97%, to 814.58, with foreign and institutional investors net buying \u20a938.6 billion and \u20a99.9 billion worth of shares, respectively, while retail investors were net sellers of \u20a948.2 billion. Alteogen (196170.KQ) soared 6.39% to trade at \u20a9320,000.<\/p>\n
The broad-based strength in South Korean equities followed the July 7 (local time) release of US employment figures, which fell significantly short of market expectations and tempered concerns about further Fed tightening. US nonfarm payrolls declined by 23,000 from the previous month, dramatically undershooting the consensus forecast of an 85,000 increase.<\/p>\n
The outlook for the September Federal Open Market Committee meeting has shifted accordingly. According to the CME FedWatch Tool, the probability of a rate pause now stands at 55.6%, surpassing the 44.4% probability of a hike for the first time in a month. A rate hold would ease discount rate pressures on growth stocks and reduce the financing burden for Big Tech companies’ AI capital expenditures.<\/p>\n
US markets closed uniformly higher on July 7. The Dow Jones Industrial Average rose 0.3%, the S&P 500 gained 0.6%, and the Nasdaq Composite advanced 1.3%. Growth stocks, particularly those tied to AI, outperformed, with the Philadelphia Semiconductor Index climbing 2.6%. Nvidia added 2.27%.<\/p>\n
Han Ji-young, an analyst at Kiwoom Securities, noted, “It is reasonable to set a scenario in which upcoming earnings from TSMC, CoreWeave, Cisco, and Applied Materials further ease concerns about an AI and memory cycle peak.” She added, “This could drive an improvement in the supply-demand environment for foreign investors, who executed net selling of approximately \u20a95 trillion centered on semiconductor stocks last week.”<\/p>\n
Meanwhile, the MSCI Korea Index ETF rose 1.20% on July 7. SK Hynix’s American depositary receipts closed 3.92% lower, reflecting the sharp decline in the underlying shares on South Korea’s exchange, but the stock’s strong rebound in domestic trading on August 10 is narrowing that gap.<\/p>\n","protected":false},"excerpt":{"rendered":"Samsung Electronics (005930.KS) and SK Hynix (000660.KS) surged more than 3% in early trading on August 10, buoyed…\n","protected":false},"author":2,"featured_media":114040,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[406,41051,987,336,335,2295,8909,3164,276,241,240,275,32650],"class_list":["post-114039","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sk","tag-alteogen","tag-federal-open-market-committee","tag-kiwoom-securities","tag-kosdaq","tag-kospi","tag-nvidia","tag-philadelphia-semiconductor-index","tag-samsung-electro-mechanics","tag-samsung-electronics","tag-sk","tag-sk-group","tag-sk-hynix","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/114039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=114039"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/114039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/114040"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=114039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=114039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=114039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}