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▲ KOSPI, domestic stock market, Samsung Electronics, SK hynix/AI generated image
Asian semiconductor stocks, which were shaken by a global tech sell-off the previous day, rebounded in just one day, but market anxiety has not yet fully subsided.
According to the economic media outlet CNBC on June 24 (local time), major Asian tech stocks partially recovered from the previous day's sharp decline on Wednesday. As the semiconductor selling pressure that simultaneously shook the US and Asian stock markets eased, bargain hunting flowed in.
In the Korean stock market, Samsung Electronics led the rebound with a sharp rebound of around 9% in early trading. SK hynix also attempted to restore investor sentiment by recovering some of the previous day's sharp losses.
The KOSPI rebounded after plummeting by around 10% on the previous trading day. However, as the intraday gains narrowed, volatility surrounding semiconductor stocks remained high.
This rebound largely has the character of a pullback following the sharp decline in Wall Street tech stocks the previous day. The Nasdaq Composite index fell by about 2.2%, and the burden of AI infrastructure investment and controversy over semiconductor stock valuations weighed on the market.
Investors' attention is turning to Micron Technology (MU) earnings. This is because it is considered a key indicator for gauging memory semiconductor demand and the intensity of AI investment.
Wedbush analyst Dan Ives assessed the market review, stating, "There are no cracks in the armor." However, whether the rebound in semiconductor stocks will lead to a trend recovery depends on Micron's earnings and the confirmation of sustained AI investment.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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