US Stock Market Movement | Storage Sector Opens with Overall Gains, SK Hynix (SKHY.US) Rises Over 7%

Zhitong Finance APP has learned that on Wednesday, the storage sector opened with a general rise. SanDisk (SNDK.US), SK Hynix (SKHY.US), and Seagate Technology (STX.US) rose by over 7%, Micron Technology (MU.US) increased by over 6%, while Western Digital (WDC.US) was up more than 5%. In addition, today, the share prices of Korea's “two major memory companies” also surged. On the one hand, investors’ risk appetite has recovered after last month’s sharp fall in chip stocks, and on the other hand, investors are weighing a report—Singapore sovereign investment company Temasek plans to invest in Samsung Electronics and SK Hynix.

According to the report, Temasek plans to invest directly in these two chipmakers through its internal investment team rather than entrusting external asset management companies, and is currently considering the timing of entry. The report also quoted sources from relevant government departments and agencies as saying that Temasek has communicated with the South Korean government about the investment timing. If the above investment materializes, it would mark Temasek’s first direct investment in the South Korean stock market. According to reports, Temasek believes storage chips in the artificial intelligence supply chain remain undervalued.