TradingKey

TradingKey - During the Asian trading session on June 24, SK Hynix officially submitted a securities registration statement to South Korea's Financial Supervisory Service, initiating the listing process for its American Depositary Receipts (ADRs) on Nasdaq. SK Hynix plans to raise up to 45 trillion won (approximately $29 billion) through the ADR issuance, with the proceeds to be used for domestic capacity expansion and the procurement of key equipment in South Korea.

TradingKey - On June 24, Eastern Time, ASML and the Netherlands Organisation for Applied Scientific Research (TNO) announced a partnership to jointly advance the industrialization of photonic integrated circuits. The two parties will engage in technical collaboration centered around TNO's photonic chip pilot line constructed at the High Tech Campus Eindhoven.

TradingKey — On June 23, Eastern Time, AI chipmaker Cerebras Systems (CBRS) released its first post-IPO earnings report. Despite revenue figures significantly beating expectations, bleak earnings guidance dragged its stock down sharply in after-hours trading.

The Nikkei 225 Index extended its losses, while South Korea's KOSPI Index staged a sharp rebound, driven primarily by Samsung Electronics and SK Hynix.

TradingKey - While the world watches the Fed, the Treasury has been quietly rewriting the rules of the game.

• SK Hynix slowing high-bandwidth memory expansion triggered a semiconductor sector sell-off. • Declining Blackwell compute rental rates raised investor concerns regarding long-term margin sustainability. • Nvidia faces regulatory scrutiny, export compliance inquiries, and federal copyright litigation.

• South Korean regulatory warnings triggered a global semiconductor sector sell-off. • High market expectations for Micron’s earnings prompted significant pre-report profit-taking. • Macroeconomic fears regarding interest rate hikes pressured technology sector valuations.

• Tesla shares declined amid regulatory investigations into its autonomous driving safety and technology. • Broader technology sector sell-offs and analyst caution regarding delivery reports pressured stock performance. • A significant European battery storage partnership failed to offset negative short-term market sentiment.

• TSMC stock declined due to broader semiconductor sell-offs and sector-wide profit-taking. • An ITC patent investigation into TSMC's process nodes has increased regulatory and geopolitical concerns. • Recent revenue growth fell short of quarterly projections, raising fears of potential margin compression.

• Broadcom's AI revenue forecast fell short of aggressive institutional market expectations. • Shifting product mix toward custom accelerators is causing gross margin compression. • Increased competition and customer diversification efforts pose risks to future market share.

TradingKey - On June 24, Eastern Time, according to four people familiar with the matter, Qualcomm (QCOM) is in talks with ByteDance regarding custom chip design services. If negotiations succeed, ByteDance will become an early customer of Qualcomm's chip design services business.

Following Samsung Electronics, SK Hynix is accelerating its ADR process, boosting its stock price and driving an afternoon V-shaped recovery in the KOSPI index.

• Morgan Stanley filed an amended S-1 for a spot Solana ETF with low fees. • Allfunds and MoneyGram integrated their services onto the Solana blockchain network. • Nasdaq-led technology selloffs and macroeconomic headwinds limited Solana’s price breakout.

TradingKey - On Tuesday (June 23) Eastern Time, dragged down by the collapse of the semiconductor sector in the South Korean stock market, US tech stocks experienced a notable pullback, particularly exerting a direct sentiment transmission on US memory chip and AI hardware chains.

The South Korean stock market staged a powerful rebound, led by Samsung Electronics, which surged over 7% on news of its share buyback.

TradingKey - In early Asian trading on June 24, Japanese and South Korean stock markets staged a recovery following yesterday's sharp decline. South Korea's KOSPI Index opened at 8,356.79 points, up approximately 1.86% from the previous session's close of 8,203.84 points. As of press time, the KOSPI rose 4.14% to 8,543.68 points. The Nikkei 225 Index opened lower by about 0.31% at 69,615 points; as of press time, the index stood at 69,691.12 points, down 0.18%.

A tech-led rout dragged down the Nasdaq by 2.21% as global memory stock sell-offs, Nvidia Rubin production fears, and high AI infrastructure costs weighed heavily on investors.

TradingKey - On June 23, Eastern Time, with the core PCE inflation data and Micron's earnings report imminent, the market opted for a sell-off to wait and see, sending the three major indices lower. QQQ plunged over 3%, with memory and chip stocks leading the declines. At the close, the Dow Jones Industrial Average fell 0.09% to 51,666.84 points; the Nasdaq Composite Index slid 2.21% to 25,587.04 points; and the S&P 500 Index dropped 1.44% to 73,665.46 points.

• Broadcom shares declined due to macroeconomic shifts and market-wide valuation adjustments. • Guidance for AI revenue fell slightly below elevated institutional market expectations. • Rising custom chip sales are pressuring gross margins and investor valuation premiums.

• Positive clinical trial results for del-brax and Rhapsido boosted Novartis stock. • State governments declined to intervene in the Xolair whistleblower lawsuit. • Strong free cash flow and dividends attract institutional investors to Novartis.