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☆ Morgan Stanley says memory stocks are set for 'new highs' and names its top picks
▼ + stars: | 2024-06-27 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Morgan Stanley analysts say they are expecting the computer memory sector to hit new highs over the rest of 2024, despite investors "generally" not being comfortable buying such stocks at such lofty prices. Aside from their attractive valuations, memory stocks are expected to see a lift in demand on the back of stronger usage of artificial intelligence-powered applications, infrastructure, tools and services, the analysts added. Top pick and overweight-rated stocks SK Hynix , the South Korean chipmaker, is Morgan Stanley's "top pick." Both stocks trade on the Korean Exchange and in the iShares MSCI South Korea ETF (SK Hynix has a 10.7% weight while Samsung Electronics has a 22.2% weight). Morgan Stanley is overweight on the stock and gives it a price target of $86, or nearly 12% upside.

Persons: Morgan Stanley, Shawn Kim, Morgan Stanley's, — CNBC's Michael Bloom Organizations: SK Hynix, Samsung Electronics, South Korean, SK Hynix —, Samsung, Korean Exchange, Western Locations: Korean, Korea

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Former federal prosecutor Neama Rahmani agrees, adding that Zhao's personal wealth won't be affected by his sentence. That's a different siutation from Sam Bankman-Fried, the controversial ex-CEO and founder of crypto exchange FTX. Bankman-Fried received a 25-year prison term for crimes connected to the operation of his crypto exchange. "Negative long-term impact on Binance will diminish the value of CZ's investment in the crypto exchange," said Yadav.

Persons: Changpeng Zhao, Reuters Changpeng Zhao, Zhao, Gabriel Abed, Richard Jones, Tre Lovell, Neama Rahmani, David Ryder, Binance, Braden Perry, Sam Bankman, Joshua de Vos, de Vos, Fried, Yesha Yadav, That's, Forbes, he's, Lucas Kiely, Kiely —, —, Yadav, it's Organizations: Staff, Reuters, CNBC, U.S, U.S . Department of Justice, District, Toyota, Bloomberg, Getty, Bank, Commodity Futures Trading Commission, Vanderbilt University, Department, Securities and Exchange Commission, SEC Locations: Paris, France, Seattle, Zhao, Binance, Los Angeles, Seattle , Washington, Dubai, U.S, bitcoin, Iran

☆ In the wake of bitcoin's new highs, South Korea's 'kimchi premium' is in the spotlight again
▼ + stars: | 2024-04-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Now, get ready for the "kimchi premium," named after the popular side dish of fermented vegetables that's a staple in Korean cuisine. The "kimchi premium" refers to the price gap in cryptocurrencies, especially bitcoin, when listed in South Korea versus those listed in U.S. or European exchanges. The kimchi premium is in the spotlight again after bitcoin reached all-time highs in mid-March, soaring past $73,000 to a record high on March 13, according to Coin Metrics data. According to cryptocurrency data provider Cryptoquant, the Korea Premium Index reached its highest level since May 2021 on March 16, reaching 10.88%. That means bitcoin's trading price in South Korea was roughly 10% higher than the global spot price.

Persons: it's, bitcoin, Sam Bankman, Fried, FTX, Chainalysis, Baik Seunghoon, Baik Organizations: Alameda Research, CNBC, University of Calgary, country's Financial, Commission, South, South Korean Locations: Korea, South, cryptocurrencies, South Korea, Japan, China, East Asia, Korean

☆ North Korea claims to test underwater nuclear-capable drone after US, South Korea and Japan show off naval might
▼ + stars: | 2024-01-19 | by ( Brad Lendon | Gawon Bae | ) edition.cnn.com time to read: +5 min

Seoul, South Korea CNN —North Korea on Friday claimed it had successfully tested an underwater nuclear weapons system earlier this week in response to naval drills by the United States, South Korea and Japan. North Korean state media on Friday did not show evidence for the success of the latest test, but warned the US, South Korea and Japan of the “catastrophic consequences” of their actions. Warships from South Korea, the US and Japan perform a trilateral exercise in the waters south of Jeju between January 15 and 17, 2024. South Korea's Defence MinistryAnalysts say it all points to an even more intractable North Korea. “If North Korea’s artillery fire near the inter-Korean maritime border was just part of routine training, it would be less concerning.

Persons: ”, Carl Vinson, KCNA, Kim Jong Un, Kim, Kim Jong, Kim ramped, Staff Kim Myung, Leif, Eric Easley, Easley Organizations: South Korea CNN, Korea Central News Agency, JS Hyūga, Korea’s, Chiefs, Staff, Warships, Korea's Defence, US Navy, Fleet, People’s Assembly, CNN Relations, South Korean Joint Chiefs, Korea's Defence Ministry Analysts, Ehwa University Locations: Seoul, South Korea, North Korea, United States, Japan, Korean, Pyongyang, Jeju, U.S, Republic of Korea, Korea, KCNA, North, “ Pyongyang

☆ S.Korea, US and Japan Nuclear Envoys Condemn North Korea Over Arms Trade With Russia
▼ + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

SEOUL (Reuters) - The nuclear envoys of South Korea, the United States, and Japan condemned North Korea for its recent missile tests, arms trade with Russia and increasingly hostile rhetoric at a meeting in Seoul on Thursday. "The United States is also deeply concerned by the recent uptick in hostile rhetoric particularly toward the Republic of Korea from the DPRK (North Korean) regime," Pak said. The three countries have increased joint efforts to deter North Korea in recent years including trilateral meetings and launching a missile warning data sharing system in December. South Korea on Wednesday announced sanctions on two individuals, three entities and 11 ships linked to North Korea's nuclear and missile programmes, days after North Korea fired a new intermediate-range, solid-fuel hypersonic missile. Japan's envoy, Hiroyuki Namazu, condemning Pyongyang's ballistic missile launch and said there must be close monitoring of what Russia might be providing to North Korea in return for armaments.

Persons: Jung Pak, Pak, Kim Jong, Kim Gunn, Hiroyuki Namazu, Hyunsu Yim, Kevin Liffey Organizations: Ukraine, North, DPRK, Wednesday, Korean, Peace, Security Affairs, South Locations: SEOUL, South Korea, United States, Japan, North Korea, Russia, Seoul, North Koreans, U.S, Republic of Korea, Korea, Pyongyang

☆ North Korea slams US for labelling it as 'persistent threat'
▼ + stars: | 2023-10-03 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

People attend a mass rally denouncing the U.S. in Pyongyang, North Korea, June 25, 2023 in this photo released by North Korea's Korean Central News Agency (KCNA). SOUTH... Acquire Licensing Rights Read moreSEOUL, Oct 4 (Reuters) - North Korea criticised a new U.S. strategy on countering weapons of mass destruction for describing the reclusive state as among those it considers a "persistent threat," KCNA media reported on Wednesday. North Korea last week adopted a constitutional amendment to enshrine its policy on nuclear force, as leader Kim Jong Un pledged to accelerate production of nuclear weapons to deter what he called U.S. provocations, according to state media. Any use of nuclear weapons by Pyongyang will bring the regime to an end, the ministry added, echoing President Yoon Suk Yeol's remark last month. The U.S. Department of Defense's unclassified version of its "2023 Strategy for Countering Weapons of Mass Destruction" said "North Korea, Iran and violent extremist organizations remain persistent threats as they continue to further pursue and develop WMD capabilities".

Persons: KCNA, Kim Jong Un, Yoon Suk, Kim Yung, Hyunsu Yim, Grant McCool, Gerry Doyle Organizations: North, Korean Central News Agency, REUTERS, South, North Korean, U.S . Department, Thomson Locations: Pyongyang, North Korea, SEOUL, U.S, United States, South Korea, North Koreans, Korea, Iran, China, Russia, Germany

☆ Chinese regulator gives greenlight to fund targeting Korean chipmakers
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 10 (Reuters) - China's securities regulator has given the greenlight to the country's first mutual fund targeting top Chinese and South Korean chipmakers, an official at Huatai-PineBridge Fund Management Co said, amid an escalating Sino-U.S. tech war. The China Securities Regulatory Commission's approval comes amid heightened geopolitical tensions between the world's two largest economies. The exchange-traded fund (ETF) will invest in top Korean semiconductor firms including Samsung Electronics Co (005930.KS) and SK Hynix Inc (000660.KS), as well as Chinese chipmaking giants such as Semiconductor Manufacturing International Corp and Montage Technology Co (688008.SS). In 2021, South Korea was China's second-biggest exporting country in equipments, including chipmaking tools, and Chinese exports to South Korea have also been rising, the fund manager said. South Korea said on Saturday there would be no significant disruption to equipment supply for Samsung and SK Hynix's existing chip production in China from the U.S. move.

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