Global Market: Samsung, SK Hynix rebound as bargain buying offsets AI chip selloff fears

Samsung and SK Hynix rebounded from sharp early declines of up to 4.4% and 5% respectively, with SK Hynix surging as much as 5.8% as bargain buying offset AI chip selloff fears. The recovery came after a broad overnight selloff in U.S. semiconductor stocks, with Intel falling 9.7%, Micron down 4.7%, and AMD declining 6.5%, triggered by Samsung's preliminary Q2 earnings that showed a 19-fold jump in operating profit but fell short of elevated investor expectations. Analysts expect memory chip supply to remain tight through Q3, supporting earnings, though a Kiwoom Securities analyst cut Samsung's target price by about 9% to 390,000 won citing rising component costs.