Mar 4 • 23:31 UTC 🇰🇷 Korea Hankyoreh (KR)

Samsung Electronics and SK Hynix Soar More Than 10% in Pre-Market Trading

Samsung Electronics and SK Hynix experienced a significant price surge of over 10% in pre-market trading on an alternative exchange in South Korea.

On the morning of the 5th, pre-market trading began with notable increases for major South Korean tech companies. Samsung Electronics saw its stock price rise by 11.38%, reaching 191,800 won, while SK Hynix's shares increased by 11.43%, trading at 946,000 won. Hyundai Motors also experienced a rise of 12.57% to 564,000 won. This sharp rebound follows a steep decline the previous day, where both the KOSPI and KOSDAQ indices fell approximately 12.06% and 14% respectively, marking one of the worst days in the history of the South Korean stock market.

The recovery in the South Korean market seems to be influenced by a positive trend in European markets, where indexes like the DAX and Euro Stoxx 50 reported increases of 1.74% and 1.75%, respectively. Additionally, the New York Stock Exchange also exhibited recovery, with the NASDAQ rising by 1.29% and the S&P 500 by 0.78%. Such performance from international markets has prompted a positive outlook for South Korea's pre-market trading.

In addition to these corporate stocks, other significant stocks within the top 100 by market capitalization within the alternative trading market also showed substantial gains, with the KOSDAQ stocks beginning to rebound as well. The underlying cause for this market recovery may stem from the previous day's alarming stock performance combined with a growing investor confidence due to international market trends and rising oil prices. As a result, the KOSPI index is expected to show a substantial rebound as trading progresses.

📡 Similar Coverage