Samsung Electronics, SK Hynix Rise for Third Straight Day; Foreigners Return as Buyers on August 13

According to Korea Exchange data, Samsung Electronics and SK Hynix rose for the third consecutive trading day on August 13, with Samsung gaining 4.89% to 268,000 won and SK Hynix climbing 5.92% to 1.593 million won. Since August 11, the two memory chip stocks have posted back-to-back gains, with Samsung up 16.52% and SK Hynix up 12.18% compared to August 10's close.

Foreign investor flows reversed sharply. Last week, overseas investors net sold 1.2985 trillion won of Samsung and 3.5078 trillion won of SK Hynix. However, from August 9 to 13, they switched to net buying 2.5982 trillion won of Samsung and 1.1984 trillion won of SK Hynix. Morgan Stanley assessed in a recent report that the sharp correction in memory chip stocks has substantially ended, calling current price levels a tactical re-entry opportunity.