Samsung and SK Hynix Experience Market Decline Amid AI Bubble Concerns
Samsung Electronics and SK Hynix have each dropped below significant price thresholds, with Samsung falling to 99,200 won and SK Hynix to 577,000 won. This decline comes as concerns over the artificial intelligence (AI) bubble persist, particularly with Nvidias earnings report approaching, leading to increased caution among investors.
As of 9:51 AM on the 18th, Samsung Electronics was trading at 99,200 won, down 1,400 won (1.39%) from the previous day. Meanwhile, SK Hynix saw a more pronounced drop, falling 29,000 won (4.79%).
Investor sentiment has been dampened by reports that institutional investors are selling off Nvidia stocks. According to Bloomberg news on the 17th, the hedge fund Til Macro sold off approximately $94 million worth of Nvidia shares as of the end of the third quarter. Til Macro is well-known as a hedge fund associated with venture capitalist Peter Thiel. Similarly, Japans SoftBank Group has also completely divested its holdings in Nvidia.
Brian Stutland, Chief Investment Officer at Equity Armor Investments, commented, "Currently, growth in technology stocks seems to be under pressure. Once Nvidias earnings are released on the 19th, we will be able to gauge how willing big tech companies are to invest further in Nvidias products."
Additionally, diminishing expectations for a reduction in key interest rates are weighing on investor sentiment. Philip Jefferson, the Vice Chair of the Federal Reserve, stated the need to "proceed slowly" regarding any changes in monetary policy.
As per the CME FedWatch tool, the futures market on the 17th reflected a 45% probability that the Federal Reserve would lower interest rates at the upcoming Federal Open Market Committee (FOMC) meeting in December, while there was a 55% chance of maintaining the current rate.
These developments highlight the cautious atmosphere surrounding technology stocks, particularly as investors await further insights from Nvidias performance and the broader economic outlook.
As of 9:51 AM on the 18th, Samsung Electronics was trading at 99,200 won, down 1,400 won (1.39%) from the previous day. Meanwhile, SK Hynix saw a more pronounced drop, falling 29,000 won (4.79%).
Investor sentiment has been dampened by reports that institutional investors are selling off Nvidia stocks. According to Bloomberg news on the 17th, the hedge fund Til Macro sold off approximately $94 million worth of Nvidia shares as of the end of the third quarter. Til Macro is well-known as a hedge fund associated with venture capitalist Peter Thiel. Similarly, Japans SoftBank Group has also completely divested its holdings in Nvidia.
Brian Stutland, Chief Investment Officer at Equity Armor Investments, commented, "Currently, growth in technology stocks seems to be under pressure. Once Nvidias earnings are released on the 19th, we will be able to gauge how willing big tech companies are to invest further in Nvidias products."
Additionally, diminishing expectations for a reduction in key interest rates are weighing on investor sentiment. Philip Jefferson, the Vice Chair of the Federal Reserve, stated the need to "proceed slowly" regarding any changes in monetary policy.
As per the CME FedWatch tool, the futures market on the 17th reflected a 45% probability that the Federal Reserve would lower interest rates at the upcoming Federal Open Market Committee (FOMC) meeting in December, while there was a 55% chance of maintaining the current rate.
These developments highlight the cautious atmosphere surrounding technology stocks, particularly as investors await further insights from Nvidias performance and the broader economic outlook.
Like
0
Upvote0
- PrevKOSPI and KOSDAQ Indices Start Lower Amid AI Bubble Concerns
- NextCureverse Partners with Samsung Medical Center for Innovative Colorectal Cancer Drug Development
신영*
코리아 핀테크 위크 2023 멋지네요
김한*
좋은 뉴스 담아갑니다.
한혜*
정말 미래적인 기술이네요. 어서 빨리 상용화 되었으면 좋겠습니다.
No comments yet.