AI memory and chip stocks slide as SK Hynix and Samsung drag Kospi down nearly 8%

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AI memory and chip stocks fell in premarket trading Thursday after a sell-off in Asia, where South Korea's Kospi Index slumped about 7.89%. Memory chip giant SK Hynix plummeted nearly 15% and Samsung Electronics tumbled around 9% on the Korea Exchange, even as the two companies detailed massive investment plans. SK Hynix said it would invest 100 trillion won, about 64.38 billion dollars, to build memory chip and packaging plants, while Samsung plans to invest a combined 140 trillion won, or 90 billion dollars, in South Korea's central Chungcheong region across displays, batteries, semiconductors, and chip materials. The two companies now make up around half of the Kospi's total weight, up from about a quarter at the end of last year, amplifying their impact on the benchmark. In Hong Kong, Semiconductor Manufacturing International tumbled about 10% and Hua Hong Grace slumped nearly 13%. U.S. premarket trading saw Micron Technology fall nearly 3%, Western Digital and Seagate Technology each decline around 4%, and Sandisk drop about 3%, while AI chipmakers Nvidia dipped about 1% and AMD fell around 2%.

Impact on assets 36

Artificial Intelligence▲ · 15 stocks
Semiconductors▲ · 13 stocks
Cloud & Digital Infrastructure▲ · 2 stocks
Information Technology▲ · 1 stocks
Consumer Staples▲ · 1 stocks
Cybersecurity & Digital Trust▲ · 1 stocks
Spatial Computing / AR/VR▲ · 1 stocks
Others▲ · 2 stocks
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