South Korea's large-cap chip stocks rebounded in premarket trading on the 21st after sliding a day earlier. Investor sentiment improved on strong U.S. corporate earnings and lower international oil prices, while better-than-expected results from AI server maker Super Micro Computer added momentum to the chip rally.
As of 8:10 a.m. on the Nextrade premarket, Samsung Electronics (005930.KS) traded at 217,500 won, up 6,000 won or 2.84% from the previous session. SK hynix (000660.KS) rose 34,000 won, or 2.78%, to 1.257 million won, while Samsung Electro-Mechanics (009150.KS) gained 33,000 won, or 2.86%, to 1.188 million won.
Other large-cap names also advanced. SK Square (402340.KS) climbed 2.43% to 759,000 won, and LG Energy Solution (373220.KS) rose 2.17% to 423,000 won. Samsung Biologics (207940.KS) gained 1.29% to 1.409 million won, and Hyundai Motor (005380.KS) added 4,500 won to 314,500 won.
New York stocks closed mostly higher on the 20th as corporate earnings beat expectations and oil prices fell. The Dow Jones Industrial Average rose 1.02% to 52,495.88, and the Standard & Poor's 500 added 0.28% to 7,712.57. The Nasdaq Composite slipped 0.02% to 26,424.82, weighed down by declines in large technology stocks including Apple and Meta. Brent crude, which had approached $112 a barrel during the session, fell below $109 on hopes for diplomatic mediation between the United States and Iran, and earnings from major companies such as 3M also topped market forecasts.
After the close, Super Micro Computer reported preliminary first-quarter revenue of $19 billion, well above market expectations of $15 billion, easing concerns over AI-related stocks. Super Micro surged more than 13% in after-hours trading, while Micron Technology and SanDisk each rose more than 2%.
Han Ji-young, an analyst at Kiwoom Securities, said the buying base in the domestic market remains weak, noting that average daily trading value on the KOSPI fell to the 17 trillion won range this week from the 23 trillion won range last week. "If improvement in chip supply and demand continues, with sustained net buying of Samsung Electronics and easing selling pressure on SK hynix, the KOSPI has a chance of regaining downside support," Han said.
