At the start of the market on the 22nd, while the KOSPI index was down more than 1%, it broke another 52-week low following the previous day.
As of 9:19 am on the same day, Samsung Electronics was trading at 54,500 won, down 800 won (1.45%) from the previous day in the stock market. The current low recorded during the day was 54,400 won, rewriting the record of the previous day’s new low in just one day.
The stock price has been on a steep decline since August due to concerns about a global economic downturn and unrest in the semiconductor industry. The previous day, the stock price plunged to 55,000 won during the day, writing a new 52-week low. It closed at 55,300 won and recorded the lowest level in over two years since the closing price of 54,400 won on September 2, 2020.
In particular, investor sentiment appears to have contracted further on this day as it was directly affected by the results of the September Federal Open Market Committee (FOMC) published by the US central bank (Fed) last night . At the FOMC meeting, the Fed made three ‘giant steps’ in a row (0.75 percentage points in interest rate increases at a time).
As a result, major semiconductor stocks such as Micron (-2.50%), AMD (-1.98%), and Nvidia (-1.54%) also recorded weakness in the US stock market overnight.
Meanwhile, in the Korean stock market, due to the same effect, the 3rd largest stock by market capitalization
It also breaks new 52-week lows. At the same time, SK Hynix is trading at 86,500 won, 1,500 won (1.7%) lower than the previous day. It was pushed back to 86,200 won during the current market, replacing the previous year’s new low.
Shin Min-kyung, reporter at Hankyung.com email@example.com