Key Takeaways:
Hong Kong-listed memory chip ETFs surged Tuesday, with the Southern 2x Leveraged SK Hynix ETF jumping nearly 15%, as a global AI-driven semiconductor rebound swept into Asian trading.
"The memory rally is extending from the U.S. session where Micron's blowout quarter confirmed pricing power remains intact," said Vivek Arya, analyst at Bank of America, who raised his Micron price target to $1,550 from $1,500.
The Southern 2x Leveraged Samsung Electronics ETF added more than 10%, while GigaDevice (兆易创新) rose over 3% and Montage Technology (澜起科技) gained nearly 2%. The moves tracked a broad U.S. memory rally Monday where SK Hynix's American depositary shares surged 14% to $172.80 and Micron Technology jumped 13%. Micron reported fiscal third-quarter revenue of $41.46 billion, up 346% year over year, and guided fourth-quarter revenue to $50 billion.
The rally positions Hong Kong-listed memory names for a potential test of recent highs ahead of SK Hynix's July 29 earnings report, which will provide the next read on high-bandwidth memory pricing and AI chip demand. Taiwan's June export orders rose 59.4% year over year to a record $95.26 billion, driven by AI and high-performance computing demand, the Ministry of Economic Affairs said Monday, reinforcing the demand backdrop for memory and semiconductor supply chains.
The broader Hang Seng Index opened higher alongside the memory rally, tracking gains in U.S. equity futures and a positive session on Wall Street where the Nasdaq Composite rose 1.9%. The Shanghai Composite also edged up in early trade, reflecting synchronized strength across Greater China equity markets.
This article is for informational purposes only and does not constitute investment advice.
