Daily Pulse · · 10:30 CET · 3 min read · market
In this edition
Pattern alerts
- 000660.KS rebound-3-8-percent-after-friday-us-memory-sell-off BULLISH
- 285A.T flash-maker-down-15-8-percent-21-8-in-two-sessions-cause-open WARNING
- SNDK storage-led-friday-memory-sell-off-minus-13-5-percent BEARISH
- 8035.T equipment-makers-bought-tokyo-electron-plus-5-2-percent NEUTRAL
Korea's two memory makers were bought back this morning. SK Hynix rose 3.8% and Samsung Electronics 1.8% in Seoul, one session after US memory and storage stocks lost between 5% and 13% on Friday. In Tokyo the picture split: the chip-equipment makers rose, while the flash-memory maker Kioxia fell 15.8% and the equipment maker SCREEN Holdings 19.0%. The memory trade did not fall apart overnight; it sorted itself.
Korea — the memory makers were bought back
SK Hynix closed at 1,472,000 won, up 3.81% from Friday's 1,418,000, and Samsung Electronics at 229,000, up 1.78%. The Kospi gained 2.24% to 5,859.08. That is the opposite of what New York expected on Friday night, when the US-listed Korea fund EWY fell 5.52%.
The last week shows how far both names had already moved. SK Hynix closed at 1,275,000 on 26 October, rose to 1,526,000 on 29 October and gave back 7.1% on Friday. Today it stands 15.5% above the 26 October close and 3.5% under the 29 October high. Samsung went from 213,000 to 242,000 on 28 October and back to 229,000. So this morning was a partial rebound inside a strong week, not a new high.
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