Stocks · 2026-11-06
Large-Cap Stocks Trim Losses as Samsung Electronics and SK Hynix Volatility Rises
Samsung Electronics fell as low as KRW 175,000 intraday, a decline of more than 13%, before paring losses to the KRW 190,000 range. A long lower shadow formed amid subdued trading, suggesting that selling pressure had eased somewhat. Some cited a dividend yield of about 8% based on a share price of KRW 180,000, while cautioning that this should not be taken as a guarantee of a floor for the stock.
SK Hynix also pared losses after a sharp intraday drop, but remained in negative territory. LG Energy Solution turned higher intraday, while Samsung Biologics recovered its early losses. On the KOSDAQ, Alteogen fell more than 4%, Jusung Engineering trimmed losses after dropping more than 15% early in the session, and Robotis turned higher.
Foreign selling continued, centered on semiconductor heavyweights such as Samsung Electronics and SK Hynix. Institutional flows relied heavily on buying by financial investment firms, making them difficult to characterize as an active bet on a rally. Market participants said investors should look beyond the price decline to whether earnings and valuations could be reassessed after the plunge, and whether foreign selling would abate.
Big Tech Investment Plans and Semiconductor Company News Send Mixed Signals
Google announced plans to invest an additional $17 billion in a data center in Wyoming. Alphabet and Nvidia also signaled their determination to continue data center investment. Policy uncertainty has increased in some areas, including Texas, following the Democratic victory, but this was cited as evidence that difficulties in a particular region do not necessarily mean investment will be halted altogether.
Reports that Microsoft could reduce or delay investment spending on some data center projects fueled market concerns. However, some interpreted the move as an effort to align funding with construction progress and tighten project management, rather than a cut to overall planned capital expenditure, given delays to construction and power connections on the relevant projects. The postponement of an expansion option due to a power shortage in Texas was also seen as related to existing power bottlenecks rather than a policy shift.
Qualcomm faced growing earnings concerns due to weakness in its handset business, although AI-related revenue remained solid. Observers said further confirmation was needed to determine whether reports that Micron had halted construction of a new plant in Taiwan reflected pressure in labor negotiations or an actual change in plans. They said there was insufficient evidence to interpret the report as a turning point toward reduced semiconductor capacity expansion, and that actual investment plans and labor negotiations in Taiwan should both be monitored.
Data center operator IREN's share price rose more than 12% after its earnings release. The company cited a five-year contract under which the customer prepays 90% of the cost of GPU purchases, and said it had secured more than $4 billion in funding. The target date for reaching its annual recurring revenue goal was pushed back from the end of 2026 to January 2027, with the company noting that supplier deliveries and customer design changes could delay it until February.