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▲ KOSPI, Domestic Stock Market, Samsung Electronics, SK Hynix/AI generated image
Asian semiconductor stocks, which were shaken by the global tech stock sell-off the previous day, rebounded in just one day, but market instability has not yet fully subsided.
According to CNBC, an economic media outlet, on June 24 (local time), major Asian tech stocks partially recovered from the previous day's sharp decline on Wednesday. As the semiconductor sell-off that simultaneously shook the US and Asian stock markets calmed down, bargain hunting flowed in.
In the Korean stock market, Samsung Electronics led the rebound, sharply rising by around 9% in early trading. SK Hynix also attempted to restore investor sentiment by recovering some of the previous day's sharp losses.
KOSPI rebounded after plunging by around 10% on the previous trading day. However, as the intraday gains narrowed, volatility surrounding semiconductor stocks remained high.
This rebound has a strong retracement character, coming after the sharp drop in Wall Street tech stocks the previous day. The Nasdaq Composite index fell by about 2.2%, and the burden of artificial intelligence (AI) infrastructure investment and controversy over semiconductor stock valuations pressured the market.
Investors' attention is now on 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, 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 confirmation of the sustainability of 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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