Samsung, SK Hynix Shares Slide as Seoul Tech Sell-Off Deepens

Samsung Electronics and SK hynix shares fell sharply in Seoul Tuesday as a broader technology sell-off collided with concerns about China’s growing memory-chip capabilities.

Samsung fell 7.4% and SK hynix dropped 10.1% during the session. South Korea’s KOSPI index fell more than 7% intraday and briefly dropped below 6,000 before standing at 6,035.35, down 5.5%, at 10:56 p.m. ET Monday (02:56 UTC Tuesday).

Investor concerns also focused on China’s memory-chip capabilities and competition in higher-value server memory, raising pressure on Samsung, SK hynix and Micron.

Samsung Electronics, SK hynix and Micron are major global memory-chip suppliers.

The declines followed losses in U.S. technology stocks, including a 3.9% drop for Micron on Monday, as investors reassessed artificial-intelligence valuations and semiconductor demand.