US Stock Market Move | Bank of America Merrill Lynch stated that the decline in the semiconductor sector is only a temporary adjustment. AMD (AMD.US) rose more than 9%.
As of the deadline for submission, the stock has risen by over 9%, reaching $566.
On Monday, AMD (AMD.US) shares rose, as of the latest update, the stock rose more than 9% to $566. The Philadelphia Semiconductor Index also rose more than 4%. On the news front, Bank of America Corp released a report clearly stating that the recent decline in the semiconductor sector is just a temporary adjustment, not a fundamental shift in AI demand. The bank believes that after the Philadelphia Semiconductor Index surged 88% in the second quarter, a 11% pullback in the third quarter is in line with the historical seasonal weakness of the sector, it is a "healthy reset" rather than a trend reversal. Samsung Electronics will announce its performance on Tuesday, this chip manufacturer's stock has risen 165% so far this year, and its financial performance will be closely watched. A few days later, SK hynix will also proceed with a $28 billion IPO in the US.
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ZHONGYU ENERGY (03633) spent 1.8272 million Hong Kong dollars on July 8 to repurchase 690,000 shares.
On July 8, CHINA LIT (00772) spent HK$341.6 million to repurchase 167,600 shares.
On July 8th, TUHU-W (09690) spent 4.5764 million Hong Kong dollars to buy back 34.82 thousand shares.
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