Samsung Electronics, SK hynix tumble on foreign selling
2026.06.05 11:19
Shares of Samsung Electronics Co. were trading at 328,500 won ($212.32) as of 9:13 a.m., down 6.54 percent from the previous session. SK hynix Inc. was at 2.204 million won, down 8.44 percent.
The decline tracked weakness in global semiconductor stocks after a mixed session on Wall Street overnight, suggesting spillover into the domestic market.
The Dow Jones Industrial Average and the S&P 500 rose 1.73 percent and 0.41 percent respectively, while the Nasdaq Composite slipped 0.09 percent. The Philadelphia Semiconductor Index dropped 2.15 percent.
Broadcom Inc. plunged 12.59 percent after reporting earnings below expectations, weighing on AI infrastructure and chip-related shares more broadly.
On the Kospi overall, foreign investors and institutions were net sellers of 582.1 billion won and 51.8 billion won respectively, while retail investors were net buyers of 580.2 billion won.
In the electronics sector alone, foreigners recorded net sales of 609.9 billion won and institutions 35 billion won, with retail investors posting net purchases of 593.3 billion won.
Stocks tied to Nvidia Corp. Chief Executive Jensen Huang’s scheduled visit to Seoul also declined, as the recent rally driven by the theme showed signs of unwinding.
LG Corp. was trading at 120,600 won as of 9:29 a.m., down 7.16 percent, nearing its May 28 closing price of 115,800 won, just before news of Huang’s visit gained traction.
The stock opened down 7.16 percent and briefly touched 119,600 won during the session.
LG shares had previously surged on expectations of a meeting between Huang and LG Group Chairman Koo Kwang-mo on potential collaboration, hitting an intraday high of 185,900 won on Monday, a record on an adjusted basis.
Other LG Group stocks also fell. LG CNS Co. dropped 8.31 percent, LG Display Co. 6.82 percent, LG Innotek Co. 5.88 percent, LG Electronics Inc. 5.49 percent, and LG Uplus Corp. 3.25 percent.
Naver Corp. fell 6.54 percent, Doosan Co. 5.56 percent, Doosan Robotics Inc. plunged 15.07 percent, and NC Corp. 4.84 percent. SK telecom Co., seen as a key partner of Nvidia Corp. in physical artificial intelligence, declined 1.47 percent.
“The Jensen Huang visit theme that had driven the Korean stock market since late last month is now entering a profit-taking phase,” said Kiwoom Securities Co. Analyst Han Ji-young.
KB Financial Group Inc. shares were trading at 174,600 won as of 9:10 a.m., up 6.33 percent. Shinhan Financial Group Co. rose 7.39 percent, Hana Financial Group Inc. 4.31 percent, and Woori Financial Group Inc. 5.76 percent.
The gains came as investors rotated out of technology stocks into defensive sectors, with banks benefiting from profit-taking in recent market leaders.
In the U.S. session on Thursday, major banks including JPMorgan Chase & Co. rose 3.34 percent, Bank of America Corp. gained 3.38 percent, and The Goldman Sachs Group Inc. advanced 4.96 percent, despite declines in technology shares such as Broadcom Inc.
“We maintain an overweight recommendation on bank stocks as a defensive strategy amid profit-taking in market leaders and rising uncertainty surrounding the delayed resolution of U.S.-Iran conflict,” said DB Securities Co. Analyst Nam Min-wook.
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