Asian Chip Shares Rebound as SK Hynix Jumps 6.44% on Renewed AI Buying
Updated
Updated · CNBC · Jun 9
Asian Chip Shares Rebound as SK Hynix Jumps 6.44% on Renewed AI Buying
3 articles · Updated · CNBC · Jun 9
Summary
SK Hynix rose 6.44%, Samsung Electronics gained 3.38% and Seoul Semiconductor jumped more than 12% as Asian investors rotated back into AI-linked chip names on Tuesday.
Wall Street set the tone: U.S. chip stocks led Monday's rebound, lifting the S&P 500 0.3% and the Nasdaq 0.86% after last week's technology selloff.
Japanese chip names also advanced, with Tokyo Electron up 5.65%, Advantest 1.51% and Renesas Electronics 2.54%, though SoftBank fell another 2%.
ORTUS Advisors said the brief shift into domestic defensives was likely fading, but warned volatility could persist through SpaceX's IPO pricing on Thursday and trading debut on Friday.
OpenAI's confidential IPO filing — following Anthropic's move — is sharpening focus on a wave of AI listings that could tighten capital as the company targets a fourth-quarter debut at a valuation above $850 billion.