SK Hynix billboard during its initial public offering (IPO) on the Nasdaq Market site on Friday, July 10, 2026 in New York, USA.
Michael Nagle | Bloomberg | Getty Images
Hello, this is Leonie Kidd from London.
Concerns surrounding semiconductor stocks are a persistent market trend. This week, they will start on the back foot once again, with South Korea’s SK Hynix in the lead.
It remains to be seen whether this is simply profit-taking or a sign of growing concerns about AI trade.
What you need to know today
South Korea’s huge loss Kospi The circuit breaker was activated, halting trading. This comes after the index heavyweight SK Hynix Asian trade fell more than 10%. The move reflects a mix of profit-taking and uncertainty over how newly listed US stocks should be valued compared to Korean stocks.
The South Korean memory chip maker soared 13% in its Wall Street debut on Friday, reflecting strong appetite from U.S. investors for AI-related semiconductor stocks.
“Everyone is really confused about what memory demand is going to be and what the right price is,” Daniel Yu, global strategist at Yuanta Securities, said on “Squawk Box Asia.”
Overall chip sector share fell in Asia, with Samsung leading the decline.
US and European futures are firmly in the red.
There is no answer to the straits.
Oil prices rose on Monday after the United States and Iran exchanged a series of strikes over the weekend.
US Central Command has launched more missile attacks on Iran after it targeted a container ship transiting the Strait of Hormuz.
Meanwhile, Iranian state media reported that Iranian forces had attacked US targets in Jordan, Kuwait, Bahrain and Oman, and claimed that the strait had also been closed.
revenue handbook
Reporting season begins this week, with big names like JPMorgan, Goldman Sachs, and Netflix leading the way. Analysts expect S&P 500 earnings to rise 23.3% year-over-year in the June quarter, according to FactSet data. If confirmed, this would be the second consecutive quarter of more than 20% growth in earnings per share. Learn more about CNBC Pro.
In Europe, Dutch semiconductor equipment supplier ASML was a hot stock on Wednesday. In Asia, semiconductor giant TSMC will announce its financial results on Thursday.
— Leonie Kidd
And finally…
Sen. Lindsey Graham, an influential lawmaker and Trump ally, dies at age 71 after a brief illness
Sen. Lindsey Graham (RS.C.) passed away unexpectedly, his office announced Sunday.
“On Saturday night, July 11th, U.S. Senator Lindsey Graham passed away after a brief and sudden illness,” Graham’s office said in a statement on X.
Graham, a prominent Republican and ally of President Donald Trump, was 71 years old.
His office added: “Senator Graham’s family appreciates your prayers at this time and asks for privacy during this incredibly difficult time.”
—Azhar Shukri, Justin Papp, Angela D. Grayling Keene
