Japan and South Korea stock markets opened higher, with SK Hynix rising 2% after earnings.

2026-07-29 by admin

Deep Tide TechFlow News, July 29, according to Bitget market data, the South Korean KOSPI index opened up 1.2%, SK Hynix rose 2% after reporting a surge in second-quarter operating profit but missing expectations; Samsung Electronics rose 3%. The Nikkei 225 index opened 0.18% higher.

Deep Tide TechFlow news, July 29 – SK Hynix (SKHY.O) reported earnings on Wednesday, driven by tech giants increasing AI data center investments, which fueled strong demand for advanced memory chips. The company's second-quarter operating profit surged 557% to 60.5 trillion Korean won (approximately $41.62 billion), setting a record high, compared to 9.2 trillion Korean won in the same period last year. However, this figure fell short of market expectations of 64 trillion Korean won, mainly because the company has a higher proportion of high-end memory chips (HBM) than its competitors, which prevented it from fully benefiting from the strong price increase cycle of conventional memory chips. This has heightened concerns that the AI boom driving the semiconductor industry may be slowing down.SK Hynix also missed revenue expectations, with second-quarter revenue at 79 trillion Korean won, while the market had anticipated 84 trillion Korean won.Following the earnings report, SK Hynix fell 9% in US trading on Tuesday and dropped another 9% in after-hours trading, with SanDisk (SNDK.O) and Micron Technology (MU.O) also falling over 4%, erasing the boost from Seagate Technology's (STX.O) earnings.

PANews, July 29, According to The Block, the Robinhood Chain mainnet reached a TVL of approximately $325 million within less than a month of its launch, with no downtime reported during this period. Although TVL continued to grow over the past month, all throughput metrics peaked in the second week post-launch and have since declined. Last week, the chain's DEX had an average daily trading volume of about $553 million, down 27% month-over-month; the average daily active accounts were approximately 275,000, down 7% month-over-month. On-chain capital turnover plummeted from 9.25x in the second week of July to 1.68x last Friday, indicating that capital inflows have far outpaced trading activity, with recent deposits being more yield-driven than transaction-driven, likely stemming from the approximately 7% annual yield on USDG provided by Robinhood Earn. The trading volume per active account also fell from a peak of around $2,800 two weeks ago to about $2,000 last week. Previously, Robinhood CEO Vlad Tenev stated that the chain "is also well-suited for Meme coins," sparking a brief craze for Meme coins like CASHCAT, though prices of related tokens have since continued to decline. Robinhood is set to release its second-quarter financial report on Wednesday.

PANews, July 29 - According to Sina Finance, after OpenAI disclosed that its AI tool accidentally infiltrated another company's internal system, over 1,100 employees from leading AI enterprises signed an open letter, urging the U.S. government to support the establishment of a mechanism to deliberately control the pace of AI development when necessary, preventing excessively rapid technological progress. The organizers stated that the open letter has been signed by employees from nearly a dozen companies, including OpenAI, Anthropic PBC, Google, and Meta Platforms Inc. The letter urges the U.S. to support an international effort to set the pace for the development of more advanced AI systems when needed. The letter warns that the speed of AI development "indeed has the potential" to outpace humans' ability to "understand or control" it. Google said in a statement: "We are committed to developing AI in a safe and reliable way, letting this technology benefit society." This open letter echoes recent calls from several AI industry leaders. OpenAI CEO Sam Altman and Google DeepMind CEO Demis Hassabis, among others, have previously called for the establishment of new international oversight bodies to review frontier AI models and set standards.