[Featured Stocks] Semiconductor Shares Rally Together... Optimism for Industry Bottom
On the 24th, semiconductor stocks, including Samsung Electronics, are recording gains in the early trading session despite the overall weakness in the KOSPI. This is interpreted as being influenced by the rise of Micron Technology and the increase in the Philadelphia Semiconductor Index in the New York stock market the previous day, driven by expectations of a bottoming out in the industry.
As of 9:35 a.m. on the day, Samsung Electronics was trading at 62,700 KRW, up 0.64% from the previous trading day, and SK Hynix was at 89,200 KRW, up 0.79%, on the Korea Exchange.
Semiconductor equipment and materials stocks such as HPSP (17.39%), Hanmi Semiconductor (11.49%), DB HiTek (9.70%), and Wonik IPS (3.29%) are also showing strong gains across the board.
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On the 23rd (local time) in the New York stock market, Micron Technology rose 5.45% on expectations of a bottoming out in the industry, and the Philadelphia Semiconductor Index, composed of leading semiconductor stocks, increased by 2.67%.
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