Samsung Electronics Jumps 9% as Asian Tech Stocks Rebound After 10% Kospi Slide
Updated
Updated · CNBC · Jun 24
Samsung Electronics Jumps 9% as Asian Tech Stocks Rebound After 10% Kospi Slide
3 articles · Updated · CNBC · Jun 24
Summary
Samsung Electronics rose more than 9% and SK Hynix gained over 4% in early Wednesday trading, helping South Korea’s Kospi rebound more than 3% after its 10% plunge a day earlier.
That bounce spread across the region, with Samsung SDI up 2.6%, Seoul Semiconductor 2.7%, SoftBank Group 1.5%, Advantest 0.6% and Lasertec 0.3%.
Wedbush said its Asia channel checks and enterprise AI demand trends showed “no cracks in the armor,” framing Tuesday’s selloff as a pause after the Kospi’s near 100% rally this year rather than a fundamentals break.
The recovery followed another harsh U.S. session: the Nasdaq fell 2.2%, the Philadelphia semiconductor index slid, Micron and Sandisk dropped 13%, and Intel, AMD and Qualcomm each lost more than 5%.