A $950 billions order fails to stop the bear market in Korean stocks, with SK Hynix opening higher but currently down 0.8%.
BlockBeats News, July 27 – On July 25, the South Korean presidential office, the Blue House, stated that leveraging the San Francisco Artificial Intelligence Summit, South Korean companies and global tech giants reached semiconductor cooperation agreements totaling 950 billion US dollars.
Specifically, Samsung Electronics signed a memorandum of understanding with Broadcom; over the next five years, the two parties will cooperate around high-end memory chip supply worth 200 billion US dollars and AI chip foundry production. SK Group will advance a five-year, long-term high-end memory chip supply cooperation with global tech giants such as Nvidia, totaling 750 billion US dollars.
However, for now, large orders still cannot save the Korean stock market. According to Bitget market data, SK Hynix opened higher this morning but continued to fall and is now down more than 0.8%. Affected by this, the Korean KOSPI index fell by 0.93%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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