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China's CXMT advances memory technology, causing Korean semiconductor stocks to fall

Yahoo Finance ·

SKHY SK Hynix Inc ADR
$157.06 -3.19%
View chart & analysis →
MU -3.62%
  1. 1Samsung shares fell 7.4% on Tuesday, while SK hynix shares fell 10.1% on Tuesday.
  2. 2CXMT highlighted major progress in a new memory cell architecture and plans to launch new memory products by the end of the year.
  3. 3According to the latest Bank of America fund survey, 37% of fund managers who increased their technology exposure expanded their holdings in tech stocks.

So what's the key point?

China's CXMT is developing new memory technology and plans to release products by the end of the year. Following this news, the stock prices of Samsung and SK hynix fell significantly.

Source Yahoo Finance · View original ↗

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