#TokyoElectron

[trader-sg112]

Semiconductor Stocks Surge on NVIDIA’s Stellar Performance

In a remarkable show of strength, semiconductor stocks experienced notable gains, driven by NVIDIA Corporation's (NASDAQ) impressive 8.1% rally—the company's best performance in over six weeks. This surge has had a ripple effect across the sector, boosting several key suppliers and broader chipmaking stocks.

Leading the charge, NVIDIA’s suppliers saw significant advances. Taiwan Semiconductor Manufacturing Company (TSMC) (TW:2330) and SK Hynix Inc (KS:000660) rose between 4% and 8%, while Hon Hai Precision Industry (Foxconn) (TW:2317) and Advantest Corp. (TYO:6857) also enjoyed substantial gains. This uptick reflects strong market confidence in the semiconductor industry’s prospects.

In addition to NVIDIA’s direct suppliers, other chipmaking giants also saw improvements. Japan’s Tokyo Electron Ltd. (TYO:8035) increased by 3.3%, and Renesas Electronics Corp (TYO:6723) climbed by 1.5%. SoftBank Group Corp. (TYO:9984), with its stake in chipmaking through its Arm subsidiary, saw a notable 7.4% rise.

Samsung Electronics Co Ltd (KS:005930), a major player in the memory chip sector, rose 1.4% following reports that the company is considering global job cuts of up to 30% in some divisions. Meanwhile, China’s largest chipmaker, Semiconductor Manufacturing International Corp (HK:0981), increased by 0.4%.

The tech sector's broader gains were also evident in internet giants. Alibaba Group (NYSE) (HK:9988), Baidu Inc (HK:9888) (NASDAQ), and Tencent Holdings Ltd (HK:0700) experienced rises between 1% and 3%, reflecting a positive sentiment across tech stocks.

This surge in semiconductor stocks highlights a strong market reaction to NVIDIA’s performance and an optimistic outlook for the tech industry, underlining its resilience and growth potential.

[usnewsper-business]

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[icchipcompany]

(通过 It's a matter of national fortune! Japan's prime minister's advisor calls for 10 trillion investment in the next ten years to revive the chip industry - IC CHIP CO., LIMITED)

[usnewsper-business]

Asia's Markets Rebound: Tech Stocks Surge, China's Loan Rates Awaited #Asianmarkets #attractivevaluations #bullishtrend #Chinaloanprimerate #COVID19pandemic #DowJonesIndustrialAverage #economicresilience. #geopoliticaltensions #HongKongHangSengIndex #mainlandChinesestocks #marketwatchers #monetarypolicy #mortgagerates #NASDAQComposite #Nikkei225 #ongoingprotests #SP500 #ShanghaiComposite #ShenzhenComponent #Skhynix #sony #SouthKoreaKospiindex #techstocks #TokyoElectron #travelrestrictions #USandNorthKorea #wallstreet