Samsung and SK hynix 7 month 7 day in pre-market trading, 4% range plunge, foreign investors 2trillion sold
7 month 7 day in pre-market trading, Samsung Electronics and SK hynix shares fell in the 4% range, while foreign investors net sold about 2trillion won of Samsung Electronics shares. Semiconductor industry news on the same day included plans to build a Gwangju fab 4facilities, Broadcom’s extension of its supply agreement with Apple, and confirmation that semiconductor equipment maker VM’s gain this year had surpassed 220%.
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7 month 7 day in pre-market trading, Samsung Electronics and SK hynix fell in the 4% range. Weakness in major semiconductor stocks continued even before the market opened.
Foreign investors net sold about 2trillion won of Samsung Electronics shares. Large-scale selling was observed around trading hours.
The two companies had recently announced record-high earnings. Their share prices continued to fall even after the earnings announcements.
Samsung Electronics and SK hynix unveiled plans to build semiconductor fabs in Gwangju 4to build. The disclosure stated that the plan involves expanding production capacity through facility expansion.
VM, classified as a beneficiary of semiconductor capital spending, has posted a year-to-date gain of more than 220percent this year. The result appears to reflect changes in investor sentiment toward the stock.
Broadcom disclosed that it had extended its semiconductor supply contract with Apple. The contract extension is notable from a supply-chain perspective.
Selling pressure spanning premarket trading and the early session spread across the semiconductor sector. Declines were observed in many related stocks.
Additional disclosures and trading developments related to this move are expected to continue emerging. Investors are advised to check the disclosures and take them into account when trading.