[Special Stock] SK Hynix Soars Over 4% Amid US Semiconductor Rally
SK Hynix is soaring, fueled by the rally in U.S. semiconductor stocks on the previous day (local time). The U.S. stock market closed at all-time highs as the April Consumer Price Index (CPI) showed a solid performance, increasing expectations for a rate cut in September.
As of 10:13 a.m. on the 16th, SK Hynix is trading at 193,300 KRW, up 4.32% (8,000 KRW) compared to the previous trading day.
Last night, Nvidia and AMD rose by 3.58% and 4.25%, respectively. The Philadelphia Semiconductor Index also increased by 2.88%. SK Hynix is interpreted as attracting investor sentiment as it leads the artificial intelligence (AI) semiconductor market by surpassing Samsung Electronics in the high-bandwidth memory (HBM) sector.
Meanwhile, the U.S. April CPI rose 3.4% year-over-year, slightly slowing from the previous month’s 3.5%. The core CPI, which excludes volatile food and energy prices, increased 0.3% month-over-month and 3.6% year-over-year. The core CPI also eased compared to the previous month.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
The April CPI significantly undershooting expectations has raised hopes that the Federal Reserve (Fed) may begin cutting interest rates as early as September. Consequently, the three major New York indices all closed at record highs.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
