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SK Hynix Surges, Alibaba Up, Sony Climbs
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- In the June quarter, Samsung and SK Hynix — whose revenues make up 80% of the memory sector — generated a staggering 150 trillion won ($104 billion) in combined operating profit in a single quarter, driven almost entirely by AI’s demand for advanced memory and storage devices.
- Asian AI-related shares, including data centers and mining stocks, rise in line with a broad rebound in chipmakers after a string of positive earnings helped lift sentiment. Alibaba rises as much as 6.3%
- Sony Group raised its profit outlook after its lucrative content holdings generated continued growth, underscoring the entertainment group’s resilience in the face of rising component prices.
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