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Hong Kong stocks closed higher, with the Hang Seng Index rising 0.6% and the Tech Index falling 0.21%. Chip stocks saw a collective correction, with GigaDevice (03986.HK) falling about 21%, Tianshu Intelligent Chip (09903.HK) falling over 18%, and Mo

2026-07-10

Hong Kong stocks closed higher, with the Hang Seng Index rising 0.6% and the Tech Index falling 0.21%. Chip stocks saw a collective correction, with GigaDevice (03986.HK) falling about 21%, Tianshu Intelligent Chip (09903.HK) falling over 18%, and Montage Technology (06809.HK) falling about 9%.

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2026-07-09

US and South Korean memory chip stocks and chipmakers have long outperformed the broader market, but this trend is now undergoing a sharp reversal. As of Wednesday's close, many major companies in the sector had fallen into bear market territory, dow

US and South Korean memory chip stocks and chipmakers have long outperformed the broader market, but this trend is now undergoing a sharp reversal. As of Wednesday's close, many major companies in the sector had fallen into bear market territory, down more than 20% from recent highs. Here are the factors contributing to the sector's pressure: 1. AI companies' best performance may not satisfy the market – Despite Samsung reporting record profits and impressive growth forecasts, it failed to win over investors; investors sold off related stocks, staging a classic "sell the news" scenario. The market remains concerned about companies over-investing in AI infrastructure. 2. Escalating geopolitical tensions – Trump's latest move to halt the US-Iran memorandum has exacerbated market anxiety about AI deals. If the conflict continues and inflation concerns resurface, the hottest sector in AI trading could see further declines. 3. A reversal triggered by sector rotation – With AI hyperscale cloud service providers lagging behind memory chip manufacturers in stock returns, a growing number of Wall Street strategists are beginning to anticipate a reversal of this trend. Morgan Stanley's chief investment officer and chief U.S. equity strategist, Mike Wilson, predicted on Monday that chipmaker stocks would correct, a prediction that has proven prescient; he now forecasts a return of funds to the hyperscale cloud service provider sector. While chipmaker stocks are nearing their highs, some hyperscale cloud service provider stocks appear quite cheap.
2026-07-10

According to Iran's Mehr News Agency, an explosion was heard near the port of Bandar Abbas in southern Iran.

According to Iran's Mehr News Agency, an explosion was heard near the port of Bandar Abbas in southern Iran.
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