Samsung and SK Hynix dip as Korean selloff tests AI-driven rally

Samsung Electronics and SK Hynix shares fell in Seoul on Thursday, interrupting a sharp recovery, as investor concerns persist over South Korea's reliance on the artificial intelligence boom. The KOSPI benchmark dropped 0.68% in early trading. The decline follows Wednesday's gains of over 7% for both chipmakers, amid an October selloff that erased approximately $792 billion in market value. Foreign investors sold 18.115 trillion won in KOSPI shares through October 20, with Samsung and SK Hynix accounting for a significant portion. SK Hynix reports third-quarter results on October 28, followed by Samsung on October 29, with investors focused on high-bandwidth memory sales and 2027 guidance. Semiconductor exports rose 222.5% in value during the first 20 days of October, though financing costs and Chinese competition cloud the outlook.