US Storage Chip Stocks Rise Pre-Market, SanDisk Up Over 4%; Hong Kong Tech Stocks Mostly Close Lower, Tencent Music Down Over 12%

Deep News17:34

On August 12, pre-market trading in the US saw Dow futures up 0.01%, Nasdaq 100 futures up 0.38%, and S&P 500 futures up 0.13%. SanDisk Corp. (SNDK) rose over 4%, while SK Hynix, Micron Technology (MU), and Western Digital (WDC) all advanced more than 3%.

In the optical communications sector, Lumentum (LITE) surged over 7%, Coherent (COHR) climbed over 5%, and Applied Optoelectronics gained more than 3%. CoreWeave, Inc. (CRWV) jumped over 17% in pre-market trading after reporting second-quarter revenue of $25.75 billion, compared to $12.12 billion in the same period last year. SUPER MICRO COMPUTER INC (SMCI) rose over 9%.

In Hong Kong, the Hang Seng Index closed down 0.83% today, and the Hang Seng Tech Index fell 0.99%. Most tech stocks declined, with Tencent Music (TME) dropping over 12%, NetEase (NTES) down over 5%, Alibaba (BABA) falling over 3%, JD.com (JD) and Baidu (BIDU) both down over 2%, and Tencent (TCEHY) declining nearly 2%.

Hong Kong-listed semiconductor stocks strengthened, with Hua Hong Grace Semiconductor Limited (688347) and Gigadevice Semiconductor Inc. (603986) both rising over 7%, GIGADEVICE (03986) up over 5%, and SMIC (00981) gaining 3%.

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