Samsung Elec, Hynix tumble on Q2 earnings worry

SEOUL, SOUTH KOREA: Key South Korean technology stocks Samsung Electronics and Hynix Semiconductor extended falls on Friday as the earnings outlook for the world's No.1 and 2 memory chip makers continued to worsen, analysts said.

"The earnings forecast for Samsung Electronics and Hynix has continued to deteriorate in recent weeks, and memory chip prices are on a downward trend," said Jin Seong-hye, an analyst at Hyundai Securities.

Shares in Samsung Electronics were down 5 percent and Hynix plunged 7.6 percent as of 0509 GMT, compared with the broader market's 1.57 percent loss.