Korean tech stocks suffer falls despite strong Q2 results

Quick Summary:

The share prices of Samsung Electronics Co., SK Hynix Inc.and Hanmi Semiconductor Co.have fallen by 6%, 17%, and 15%, respectively, since they disclosed second-quarter earnings.LS Electric Co., regarded as a beneficiary of the AI boom, also reported forecast-beating results but its share price has plummeted 35% in one week since its second-quarter earnings release.

In particular, artificial intelligence-related and large semiconductor companies suffered steep price falls after US Big Tech's disappointing second-quarter results sent their share prices sharply lower.

Some 60% of the Kospi-listed companies that posted above-forecast results in the second quarter of this year have seen their share prices declining since reporting their quarerly results.

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Article Details

Category: Economy

Markets: South KoreaIndia

Topics: Price Results Quarter Share Second Semiconductor Prices Second-quarter Earnings Companies Kospi-listed

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 15:59:53 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 245 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 16 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 21927286

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