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Asian stocks vary as memory chip rivalry grows
The Asian stock market experienced mixed performance due to increasing competition in the memory chip sector, with South Korean stocks falling by 3.5% amid tensions in the chip industry. Meanwhile, a Chinese company has made progress in developing new memory chips, which could intensify competition with major players like Samsung and SK Hynix. Conversely, markets showed limited movement due to the closure of Japanese markets and a holiday week in the United States, as investors await US inflation and employment data that influence expectations for interest rate hikes. Attention is also focused on the upcoming results of TSMC, which is expected to achieve record profits driven by strong demand for AI technologies. In the energy market, oil prices declined amid uncertainty over a possible ceasefire between Russia and Ukraine, as well as reports of Houthi attacks disrupting energy supplies in the region.
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