SK Hynix Sheds Nearly 8% While Dow Jumps: What Is Seoul Pricing In?

SK Hynix shares dropped 7.74% to 1.288 million won on Thursday, while Samsung Electronics fell 5.50% to 206,000 won by 10:01 a.m., as Korean chip stocks sold off after US Democrats won control of Congress. The KOSPI was down 1.98% at 5,570.99 by 9:15 a.m. Investors fear the Democrat-led Congress, sworn in Jan. 3, could tighten rules on AI data centers, which underpin demand for the high-bandwidth memory chips SK Hynix and Samsung supply. The Dow had risen 3% on Wednesday, but the Philadelphia Semiconductor Index fell 3.1% to a six-month low.