An image of a mobile device at the Taiwan Semiconductor Manufacturing (TSMC) Innovation Museum in Hsinchu, Tuesday, January 11, 2022.
Chen Yihua | Bloomberg | Getty Images
Asian technology stocks rebounded on Tuesday, tracking Wall Street’s gains, as investors returned to artificial intelligence stocks.
South Korean memory chip giant SK Hynix rose 6.44%, while Samsung Electronics rose 3.38%. Seoul Semiconductor’s sales soared by more than 12%.
Japanese semiconductor manufacturing equipment manufacturers have also expanded into Tokyo Electron 5.65% increase, Advantest Add 1.51%; Renesas Electronics It increased by 2.54%.
However, the stock price of Japan’s high-tech investment giant is Softbank The slide widened further, down 2%.
In the U.S., semiconductor stocks led gains on Monday, with the S&P 500 up 0.3%, while the tech-heavy Nasdaq Composite Index rose 0.86%, reversing some of last week’s losses as technology stocks widened their losses.
“The return to domestic defense that we saw yesterday is not likely to last for long,” said Andrew Jackson, equity strategist at ORTUS Advisors.
Jackson said it remains unclear whether the recent pullback will be enough to reset valuations, but the market is likely to remain volatile throughout the week as investors brace for pricing for SpaceX’s long-awaited initial public offering on Thursday and the start of trading on Friday.
Investor attention has turned to the possibility of a wave of blockbuster AI listings after OpenAI announced it had secretly filed for an initial public offering, days before SpaceX stock was scheduled to begin trading, following a similar move by Anthropic Inc.
Jackson added that capital could become more constrained after OpenAI’s IPO filing. The artificial intelligence company, which has a market capitalization of more than $850 billion, is preparing to go public as early as the fourth quarter of this year.
