Asian chipmaking stocks rose on Wednesday, amid some confidence in the sector ahead of third-quarter earnings from industry bellwethers ASML and TSMC, which are due this week.
South Korean chipmakers Samsung Electronics Co Ltd (KS:005930) and SK Hynix Inc (KS:000660) rose 3.1% and 0.5%, respectively. Samsung was also supported by Goldman Sachs hiking its price target and maintaining its Buy rating on the stock.
In Japan, Advantest Corp. (TYO:6857) and Tokyo Electron Ltd. (TYO:8035) rose 1.3% and 0.7%, respectively, while Renesas Electronics Corp (TYO:6723) surged 4.4% after Reuters reported the company was considering a sale of its timing division at a valuation of $2 billion.
Chinese chipmakers were less upbeat, given their limited exposure to Western chipmaking trends. SMIC (HK:0981) fell 0.4%, while Hua Hong Semiconductor Ltd (HK:1347) rose 1.1% in Hong Kong trade.
Chinese AI major Cambricon Technologies Corp Ltd (SS:688256) rose 1.5%, while Wingtech Technology Co Ltd (SS:600745) rose 2.5% as it rebounded from steep losses over the past two sessions.
Dutch chipmaking equipment maker ASML Holding NV (AS:ASML) will report earnings later on Wednesday, while TSMC ’s(NYSE:TSM) earnings are due on Thursday.
Both companies are considered as bellwethers for the chipmaking industry. ASML is the only maker of advanced lithographic equipment used for making chips, while TSMC is the world’s biggest contract chipmaker.
Earnings from both companies are expected to reflect broader trends for the chipmaking industry.
Source :
https://www.investing.com/news/stock-market-news/asia-chipmakers-upbeat-ahead-of-asml-tsmc-q3-earnings-4288691
