SK Hynix Drops as Profit Disappoints

SK Hynix shares slide by a daily record of around 19% in Seoul Wednesday, erasing early gains after the memory maker reported lower-than-expected operating profit for the second quarter and announced plans for higher spending. The company earmarked at least $31 billion in capital spending this year after reporting a six-fold surge in quarterly profit. Bloomberg's Anthony Stephens reports. (Source: Bloomberg)

Rio Tinto buoyant on AI demand for metals as earnings soar

Miner hails outcome of cost cuts and says data centre investments will raise need for commodities

AI sell-off intensifies as investors ditch chip stocks

Samsung and SK Hynix fall by more than 10% amid renewed fears over AI spending and Chinese competition Business live – latest updates The sell-off in AI stocks has intensified, driving South Korea’s stock market down to its lowest level in three months. Investors continued to ditch chip stocks on Tuesday, amid rising concerns about the huge amount of borrowing among AI companies to fund their datacentre expansion plans. Continue reading...

By Lauren Almeida and Graeme Wearden

BTS' concerts have been so successful, it's now bad for its own agency Hybe's shares

Shares of Hybe tanked 16.09% on Tuesday, marking its worst day since June 2022. It then extended losses to tumble as much as 16.31% on Wednesday.

Nasdaq-100 is on the edge of correction territory as semiconductor stocks take another beating

Just weeks after driving major indexes such as the S&P 500 and Nasdaq Composite to record highs, semiconductor stocks are taking a beating once again.

By Joseph Adinolfi

Copper And Aluminum Plug A Potential Profit Hole For Rio Tinto

Data center demand for copper and aluminum has lifted the half-year profit of Rio Tinto as demand fades for iron ore the company's traditional leader.

By Tim Treadgold, Contributor

China chip making breakthrough and AI debt fears hammer semiconductor stocks worldwide

The US technology-heavy Nasdaq 100 fell 1.8pc in early trading

By Momoka Yokoyama

Barclays first half profit beats forecasts at £6.1 billion

Barclays’ first half profits rose by a ​better than expected 17 per cent as it reaped bumper equities trading revenues from volatile markets, although ‌its shares dropped on Tuesday in a sign of high investor expectations for British banks. Profit before tax for the January to June period of £6.1 billion ($8.11 billion) was just […]

Seoul shares open higher on bargain hunting after chip rout

Seoul shares opened sharply higher Wednesday as investors went bargain hunting following a nearly 11 percent dip the previous session on a loss in chipmaking stocks. After opening 1.09 percent higher, the benchmark Korea Composite Stock Price Index rose 134.24 points, or 2.23 percent, to 6,157.90 as of 9:15 a.m. On Tuesday, the index plunged 10.84 percent to close at 6,023.66 amid woes over the future of large-scale investment into artificial intelligence infrastructure and rising competition fr

By The Korea Herald

StanChart lifts income target after wealth boom powers earnings beat; shares jump

Rio Tinto Non-GAAP EPS of $4.21, revenue of $31.03B misses by $260M

'Pray For Kospi': SK Hynix Earnings Miss, Sending Stock Reeling

'Pray For Kospi': SK Hynix Earnings Miss, Sending Stock Reeling Things are not going to be fun in South Korea tonight... Good news first... SK Hynix's net income surged a bigger-than-expected 1,242% (though admittedly on one-time investment gains) with the ginat chipmaker bragging that it won multiyear contracts with around 10 customers. Ok, now the bad news... SK Hynix’s quarterly profit rose a smaller-than expected 557%. The key supplier of Nvidia reported operating profit of...

By Tyler Durden