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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Old worm won't die after 2008 attack on U.S. military 16 Jun 2011 Old worm won't die after 2008 attack on military 16 Jun 2011 Anthony lawyer's paternity question halts court 16 Jun 2011 Oracle seeks billions in lawsuit against Google 16 Jun 2011 Cable worried about poverty, not Netflix 14 Jun 2011 Discussed 111 Obama weighs new steps to boost jobs 71 Republicans to debate, with Romney the frontrunner 60 Delaware police interview teen about Congressman Weiner Watched Airbus' view of flying in the future Mon, Jun 13 2011 Hefner, fiancee split; Schwarzenegger mistress talks Wed, Jun 15 2011 Gloom deepens for Research in Motion 3:26am EDT Samsung Electronics, Hynix tumble on Q2 earnings worries Tweet Share this Email Print Related News California judge sides with Rambus on shredding Tue, Jun 14 2011 Nokia wins rare battle as Apple settles legal row Tue, Jun 14 2011 Samsung, Apple to end Nokia's smartphone reign Mon, Jun 13 2011 Dow, S&P end sixth losing week - is seventh on tap? Fri, Jun 10 2011 Toyota forecasts 35 percent profit slide after quake Fri, Jun 10 2011 Analysis & Opinion Tech wrap: Samsung to take smartphone crown Fed gets a taste of painful exit strategies Related Topics Technology » Hot Stocks » Asian Markets » Media » An employee of Samsung Electronics walks at a headquarters of the company in Seoul July 30, 2010. Credit: Reuters/Lee Jae-Won SEOUL | Fri Jun 17, 2011 2:11am EDT SEOUL (Reuters) - Key South Korean technology stocks Samsung Electronics and Hynix Semiconductor lost ground on Friday as the earnings outlook for the world's No.1 and 2 memory chip makers continued to worsen. Shares in Samsung Electronics were down 4.8 percent at 807,000 won as of 1:42 a.m. EST, compared with the broader market's 1.12 percent loss. Morgan Stanley was the day's top seller of Samsung Electronics shares, according to Korean Exchange data. "The stock market overall is hysterical right now on the latest negative global economic developments, and appetite for riskier, more cyclical plays is evaporating rapidly," said Chung Yun-sik, chief investment officer at ING Investment Management. "The technology sector is being hit the hardest, as its earnings outlook has continued to deteriorate," Chung added. Traders said memory chip prices were on a downward trend despite market expectations of a pickup earlier this quarter. The U.S. Philadelphia semiconductor index has tumbled 16 percent since mid-February. Samsung Electronics' second quarter operating profit is forecast to be around 4 trillion won ($3.66 billion), Thomson Reuters I/B/E/S data showed, compared to 5 trillion won a year ago. Analysts said earnings expectations were being further downgraded. "We recently lowered our second quarter operating profit forecast on Samsung Electronics to 3.6 trillion won," said Jin Seong-hye, an analyst at Hyundai Securities. Hynix Semiconductor Inc shares slid 6.45 percent to 28,300 won, after local brokerage Korea Investment & Securities on Friday lowered its 12-month target price on Hynix to 39,000 from the previous 42,000 won. The world's No.2 memory chip maker is seen posting a 553.28 billion won operating profit for the quarter ending in June, according to Thomson Reuters' I/B/E/S, compared with a 1 trillion won operating profit a year earlier. "I cut my consensus forecast (for Hynix's second-quarter earnings) to 420 billion won, but I am also hearing talk in the market of 360 billion won," said James Song, an analyst at HI Investment & Securities. (Reporting by Jungyoun Park; Editing by Jonathan Hopfner) Technology Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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