Overnight, memory chip stocks on Wall Street faced selling pressure, with Micron Technology (US.MU) shares down about 3.6%, Western Digital (US.WDC) down 1.6%, and SK Hynix (US.SKHY) ADR down 3.2%.
South Korean stocks had previously experienced five consecutive days of decline, rebounding over 2% this morning, with KOSPI reaching a high of 6190 earlier today. However, facing renewed selling pressure at higher levels, the index reversed direction, briefly falling below the 6000-point level to a low of 5944, and closed at 6008, down 0.44%. The underlying stock of heavyweight SK Hynix briefly dropped to 1.402 million Korean won, closing at 1.419 million Korean won, down 1.66%.
Currently, the Hang Seng Index stands at 24,376, up 31 points or 0.1%, with main board turnover exceeding HK$132.7 billion. The Hang Seng China Enterprises Index is at 8,192, up 18 points or 0.2%. The Hang Seng Tech Index is at 4,192, up 56 points or 1.4%. (vs)