SMIC Up, TSMC Jumps, Samsung Expansion
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SMIC Up, TSMC Jumps, Samsung Expansion
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Chinese chip stocks like Semiconductor Manufacturing International Corporation are on the rise, with optimism supported by a report saying ChangXin Memory Technologies has signed a supply agreement with Tencent. Investment plans by South Korea’s Samsung and SK Hynix further bolster sentiment in the sector
- TSMC shares jump as much as 4.4% in Taipei after Morgan Stanley analysts raised their price target for the chipmaker by 12% to NT$2,888, citing a better revenue and pricing outlook.
- Samsung Group and SK Group said Monday they plan to build two chipmaking plants apiece in the southwest for a total of 800 trillion won to rapidly expand production capacity and meet increasing demand
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