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Micron Technology, Inc. (MU.US) Surges 19% Overnight as UBS Raises TP; Asia-Pacific Semiconductor Stocks Rally, Delta and MediaTek Jump 9%, SK Hynix Up 10%
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US stocks showed mixed performance overnight (26th). The DJIA fell 0.2%, while the Nasdaq and S&P 500 rose 1.2% and 0.6%, respectively, both hitting record highs. UBS issued a report raising the TP for global memory chip giant Micron Technology, Inc. (MU.US) from USD535 to USD1,625, representing an increase of nearly 204%. Micron surged 19.3% after resuming trading overnight to close at USD895.88, with market capitalization surpassing USD1 trillion. Peers Sandisk Corporation (SNDK.US), Western Digital Corporation (WDC.US) and Seagate Technology Holdings PLC - Ordinary Shares (Ireland) (STX.US) rose 4.1% to 8.3%, all reaching record highs. Chip and semiconductor-related stocks across the Asia-Pacific region generally advanced. Hong Kong stocks opened slightly higher this morning (27th). The HSI opened up 9 points but soon turned lower, last at 25,535, down 63 points or 0.2%, with turnover of HKD72.591 billion. Hong Kong-listed memory-related stocks performed well. GIGADEVICE (03986.HK) hit an all-time high of HKD917.5 this morning. It was last at HKD882, up 6.91%, with turnover of HKD764 million. MONTAGE TECH (06809.HK) was last at HKD482.8, up 4.5%, with turnover of HKD694 million. Leading chipmakers SMIC (00981.HK) and HUA HONG SEMI (01347.HK) remained strong, rising 2.3% and 4.2%, respectively. Mainland China A-share markets diverged in early trading. The Shanghai Composite and Shenzhen Component Index were down 0.2% and up 0.7%, at 4,135 and 15,999, respectively. Taiwans market rose to a record high of 44,817 and was last at 44,538, up 1,012 points or 2.3%. TSMC and Hon Hai rose 1.9% to 2%. Delta Electronics and MediaTek each surged 9%, while Wiwynn fell 1% against the trend. Japans Nikkei index broke above the 66,000 mark for the first time, hitting a record high of 66,428. It was last at 65,565, up 569 points or nearly 0.9%. Semiconductor stocks rallied, with Tokyo Electron (8035.JP), Advantest (6857.JP) and Shin-Etsu Chemical (4063.JP) rising 5.4% to 7.4%. SoftBank (9984.JP), which had surged in recent sessions, pulled back 4.4%. Driven by two heavyweight stocks, South Koreas KOSPI once rose to a record high of 8,450 and was last at 8,383, up 355 points or 4.2%. The Korea Exchange triggered a circuit breaker after KOSPI 200 futures surged 5%, with program trading halted for five minutes. Samsung Electronics rose 6.6% to KRW318,000. SK Hynix once jumped more than 11%, with market capitalization surpassing USD1 trillion for the first time. It was last at KRW2,264,500, up 10.4%, both hitting record highs. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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