SK Hynix has seen its stock price surge over 600% in the past year, driven by its dominant position in the HBM memory market essential for AI. Despite the rally, the company trades at a lower forward P/E ratio than key rivals ahead of its upcoming earnings report.
Semiconductor stocks in South Korea and Japan gained after Google-parent Alphabet boosted its capital expenditure forecast, while Chinese chipmakers fell amid new U.S. allegations of technology theft.
A study by Adecco Group, the world's largest staffing company, argues that artificial intelligence will not lead to a collapse in employment, suggesting a transformation of roles rather than mass job destruction.
U.S. chipmakers Intel and AMD are discussing long-term supply commitments with Chinese server customers to lock in volumes amid soaring AI-driven demand, according to a Reuters report.
Asian markets, led by South Korean chipmakers, advanced after Alphabet boosted its AI spending forecast. Gains were capped by a surge in oil prices following new tensions in the Middle East, which revived inflation concerns.
Chipmakers Intel and AMD are reportedly signing year-long or multi-year supply commitments with Chinese server customers as surging AI demand tightens the supply of data-center CPUs and drives prices up over 40% this year.
Hong Kong's flag carrier forecast a first-half profit of up to HK$6.5 billion, its second-highest ever, driven by robust passenger and cargo demand that helped offset rising fuel costs.
The Chinese intelligent driving company's stock fell sharply after it announced plans to raise $16 million by issuing new shares at a significant discount, sparking investor concerns over shareholder dilution.
Scandinavian Tobacco Group has agreed to divest its BREAK and Moro fine-cut tobacco brands to Japan Tobacco Inc. in a deal with a pre-tax enterprise value of approximately $195 million.
