Samsung Electronics and SK Hynix, among other semiconductor stocks, rose broadly in early trading. The gains followed a surge in U.S. memory semiconductor stocks overnight as easing inflation reduced interest-rate concerns and improved investor sentiment.
As of 9:06 a.m. Aug. 14, SK Hynix was trading at $1,124, up $62, or 5.84%, from the previous session. The stock has now gained more than 5% for two consecutive trading sessions. SK Square, which holds a stake in SK Hynix, also rose 3.94%.
Samsung Electronics gained 2.05%, while Samsung Electro-Mechanics rose 4.86%.
The strength in U.S. memory semiconductor stocks overnight carried over into South Korean markets. On Aug. 13, SK Hynix’s American depositary receipts (ADRs) surged 7.29%, while Micron Technology rose 4.23%.
Sandisk was particularly strong, jumping 13.67% and boosting investor sentiment toward memory stocks. At its Investor Day, Sandisk set a long-term growth target calling for revenue to increase by the mid-to-high teens on an annual average basis from fiscal 2028 through fiscal 2030.
Expectations that favorable conditions in the NAND market could persist for an extended period, driven by rising demand for data center storage amid the expansion of artificial intelligence, spread across the broader semiconductor sector. Recent plans by U.S. technology giants including Microsoft and Amazon to make large-scale investments in AI data centers have also eased concerns over a slowdown in AI spending.
The retreat in concerns over further U.S. interest-rate hikes also supported investor sentiment toward growth stocks. U.S. producer prices in July were unchanged from the previous month, below the market’s forecast of a 0.2% increase. Following the earlier release of consumer price data, the latest figures further confirmed an easing in inflation, pushing U.S. Treasury yields lower across maturities. Falling oil prices, partly due to an increase in crude inventories, also reduced inflationary pressure.
Han Ji-young, a researcher at Kiwoom Securities, said, “Despite profit-taking following the recent consecutive rally in South Korean stocks and a wait-and-see sentiment ahead of the holiday, the market is expected to maintain its upward momentum, supported by relief over U.S. July producer prices and positive developments stemming from Sandisk.”