Global Semiconductor Memory Stocks Fall July 28; GigaDevice -15.75%, Samsung, SK Hynix >10%, Nvidia -4.99%
On July 28, global semiconductor memory stocks fell sharply. GigaDevice dropped 15.75%, Montage Technology 10.81%, Samsung Electronics and SK Hynix over 10% each, and Nvidia 4.99% amid market concerns over its circular financing model and a rumor of a $250 billion guarantee for OpenAI. The Korea Composite Index fell over 9%. SanDisk declined 11.02%, AMD 5.17%, and Micron Technology closed down 2% after a 7% intraday drop.
On July 28, Hong Kong-listed memory concept stocks weakened, pressured by the overnight pullback in the US semiconductor sector and contagion of panic sentiment in Asia-Pacific markets. As of press time, GigaDevice fell 15.75%, and Montage Technology dropped 10.81%.
In the Asia-Pacific market, the Korea Composite Index plunged over 9%, with chip giants Samsung Electronics and SK Hynix both falling more than 10% intraday. In the US market, Nvidia closed down 4.99% amid market skepticism over its 'circular financing' model and the escalation of a rumor that it plans to provide a $250 billion guarantee for OpenAI. The semiconductor supply chain also suffered: SanDisk tumbled 11.02%, SK Hynix fell 7.47%, AMD declined 5.17%, and Micron Technology, after an intraday drop of over 7%, narrowed its loss to 2% in the final session.