Losses in worldwide semiconductor stocks caused the two biggest South Korean chip makers, Samsung Electronics and SK Hynix, to see drops in their share prices.
The two largest chip manufacturers in South Korea, Samsung Electronics (005930.KS) and SK Hynix (000660.KS), had their share prices drop 1.9% and 3.9%, respectively, on Thursday as a result of losses in global chip stocks. In its worst session since 2020, Wall Street’s semiconductor index saw a loss of over $500 billion in stock market value on Wednesday. The decline was attributed to a report indicating that the US was proposing stricter export restrictions on sophisticated semiconductor technology to China.
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