KOSPI closed at 2,593.27 (-2.13%), falling below 2,600.
Samsung Electronics closed at ₩61,500 (-4.21%), hitting a 52-week low.
SK Hynix closed at ₩174,600 (-5.01%).
Foreign investors have sold Samsung shares for 17 consecutive sessions, totaling ₩8.62 trillion in net outflows.
KOSPI earnings forecasts fell 4.3% in the past month, with semiconductors contributing 3.4 percentage points.
Micron’s revenue jumped 93% YoY, but NVIDIA’s slowing growth raises concerns about a broader sector recovery.
Opinion
The current downturn in the semiconductor sector suggests more than just short-term earnings weakness—it points to structural challenges. A key red flag is that despite Micron’s strong earnings, the market failed to react positively, indicating that investors are more concerned about fundamental shifts in the industry rather than isolated corporate performances.
The delays in Samsung’s HBM production and NVIDIA’s slowing growth raise concerns about Samsung’s AI semiconductor competitiveness, which could significantly impact its long-term growth prospects.
Core Sell Point
The semiconductor sector’s decline is not just about temporary earnings weakness but a broader competitive shift in the AI era. With Samsung’s AI positioning weakening, the chances of a meaningful short-term rebound remain limited.
The semiconductor sector, which saw a brief rebound following Micron Technology’s earnings surprise, has once again plunged. Concerns over a peak-out in the semiconductor cycle persist as Samsung Electronics’ Q3 and Q4 earnings forecasts continue to decline.
On October 1, the KOSPI index closed at 2,593.27, down 56.51 points (-2.13%) from the previous session. The sharp decline in major semiconductor stocks, including Samsung Electronics, drove the index below the 2,600 level for the first time in three sessions. Foreign investors sold approximately ₩1 trillion worth of KOSPI stocks in a single day.
Samsung Electronics Hits New 52-Week Low
Samsung Electronics fell 4.21% to close at ₩61,500, marking a new 52-week low.
The stock dipped as low as ₩61,000 intraday, a level not seen since March 22, 2023—about 18 months ago.
Foreign investors have been net sellers of Samsung Electronics for 17 consecutive trading days, dumping ₩8.62 trillion ($6.4 billion) worth of shares in the past month.
SK Hynix also tumbled 5.01% to ₩174,600.
Semiconductor Sector Drives Down KOSPI Earnings Forecasts
Over the past month, KOSPI’s consolidated operating profit estimates have declined by 4.3%, primarily due to the semiconductor sector.
Semiconductors accounted for 3.4 percentage points of this decline, highlighting the industry’s significant drag on overall market performance.
Q3 operating profit estimates for the semiconductor sector have been revised down by 12.8%, while Q4 estimates dropped by 11%, according to Daishin Securities’ analyst Lee Kyung-min.
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