Channel NewsAsia
AsiaPac · 2 hrs ago
Korean chip stocks rebound after overnight US selloff, as chip supply remains tight
SEOUL, July 8 : Shares of South Korean chipmakers Samsung Electronics and SK Hynix rebounded on Wednesday after early losses, as investors bought the dip following a sharp selloff fuelled by concerns over the sustainability of the AI-driven chip boom.Samsung rose as much as 1.4 per cent and SK Hynix climbed as much as 5.8 per cent in morning trade, after earlier falling as much as 4.4 per cent and 5 per cent, respectively, as they initially tracked an overnight decline in U.S. semiconductor stocks.Analysts said the earnings season is only just beginning and expectations for strong results from chipmakers remain intact. They added that memory chip supply is still expected to remain tight through the third quarter, underpinning bargain buying after Tuesday's selloff.Optimism surrounding SK H
Do you trust Channel NewsAsia?
Sign in to rate
Discussion 0 comments
Sort:
?
No comments yet — be the first to start the discussion!