Cameron Winklevoss calls the AI trade over and backs Bitcoin and Zcash as the Kospi crashes 10.84% on China chip fears.
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Well-received earnings from Unilever, Croda and GSK spurred gains on the blue-chip FTSE 100.
At one South Korean vocational high school, 96.4% of graduates land jobs—with many headed to Samsung and earning six-figure paychecks without degrees.
Samsung, SK Hynix, and Kioxia got destroyed overnight in Asia, and the shockwave hit US memory and storage stocks hard in premarket trading Tuesday. Three overlapping catalysts are forcing traders to rethink whether the AI memory trade was built on shakier ground than anyone admitted.
South Korea's KOSPI just suffered a historic overnight collapse, dragging Samsung and SK Hynix down double digits and sending shockwaves straight into US chip stocks before Tuesday's open. Whether this sparks another brutal Nasdaq sell-off depends on one critical signal forming in premarket right now.
Asian stock markets churned downwards on Tuesday, with tech-exposed exchanges closing sharply lower
Samsung and Broadcom (NasdaqGS:AVGO) agreed a more than US$200b AI semiconductor deal running through 2030. The agreement focuses on next generation AI infrastructure, advanced memory and high performance computing chips. The multi year supply and co development deal deepens Broadcom's role in core AI hardware across data centers and related infrastructure. Broadcom sits at the intersection of networking, custom silicon and specialized chips that support data centers and cloud...
The world’s hottest major index dived almost 11% as fears about cheap Chinese chip competition bled into international markets after ravaging U.S. tech stocks.
South Korean stocks got hammered on Tuesday, and that's a major worry for Wall Street. The country's flagship Kospi index plunged more than 10%, dragged down by slumps in the shares of memory-chip makers SK Hynix and Samsung.
↘️ Samsung (KR:005930), SK Hynix (KR:000660, SKHY): Shares in both chipmakers dropped more than 13% as part of a broader selloff amid mounting doubts over the AI boom. Over in the U.S., Micron Technology (MU), Intel (INTC) and other chip stocks are also sliding premarket.
The boom-and-bust memory cycles of the past few years may be over.
Tech stocks looked set to drop again on Tuesday as investors continued to ditch chip makers, which got hammered the previous session due to concerns about fierce competition from China. Nasdaq 100 futures declined 0.
Global tech stocks have plunged after China achieved a breakthrough in developing technology crucial to the AI boom.
Investor jitters over how long the artificial intelligence spending boom will last and concern over Chinese competition in chipmaking sent technology shares plunging Tuesday."The first leg of the artificial-intelligence boom was financed with cash, confidence and some of the strongest balance sheets in corporate America," wrote Stephen Innes at SPI Asset Management.
Global tech stocks plunged after China achieved a breakthrough in developing machinery crucial to the AI boom.
South Korea's Kospi index plunged more than 10% on Tuesday morning as chipmaking stocks came under heavy selling amid renewed concerns over whether the artificial intelligence boom can be sustained.View on euronews
South Korea’s Kospi index plunged more than 10% on Tuesday on heavy selling of chipmaking stocks that have gyrated recently due to concerns over the sustainability of the boom in artificial intelligence. Oil prices fell more than 1%, while U.S. futures were little changed. Trading was temporarily halted as Kospi dropped to its lowest level since April as shares in chipmakers Samsung Electronics and SK Hynix dropped sharply.
The Direxion Daily South Korea Bull 3X Shares is declining amid a sharp selloff in chip stocks globally, including in South Korea.
South Korean and Japanese tech took another battering Tuesday, leading losses across most Asian stock markets, as a report of a breakthrough in China's chip industry compounded growing worries about the longevity of the AI boom.There were also losses across most other markets, though Hong Kong was the standout as its tech firms enjoyed some much-needed buying following a painful first half of the year.
SINGAPORE, July 28 (Reuters) - Asian markets fell on Tuesday led by chipmakers on unease about the massive funding demands of the AI boom, while a slide in oil prices did relatively little to lift
South Korea's top financial regulator said on Tuesday that authorities would consider a cap on single-stock leveraged exchange-traded funds (ETF) investments for retail investors if needed, local media reports said. Lee Eog-weon, chairman of the Financial Services Commission, told a meeting with local brokerages and asset managers in Seoul that the regulator would review and prepare additional measures to curb the demand for the ETF products, such as putting a cap on total value of investments for each individual.
South Korean chip stocks slumped on Tuesday, with Samsung Electronics and SK Hynix falling as much as 9.5% and 10.9%, respectively, as investors dumped AI-related bets amid mounting concerns over financing risks tied to AI infrastructure spending and intensifying competition from China. SK Hynix's U.S.-listed shares had already slumped overnight, closing at $143.02, below their initial public offering price of $149. The benchmark KOSPI was trading down 7.3% as of 0032 GMT.