US Dollar and USD/JPY Gains Falter as Optimism Grows for Iran Conflict Easing

Over the past two months, Samsung and SK Hynix have alone absorbed over $25 billion in sell pressure. Now, Samsung Electronics has completed its buybacks ahead of schedule, and SK Hynix is left with only about $500 million to finish up. On their "exit" day, the KOSPI instantly dropped by 2%. More dangerously, Samsung's Q3 results missed expectations for both revenue and profit. Coupled with ETF rebalancing and options expiry, a "liquidity vacuum" has become a reality, leaving the question of who will step in as the biggest mystery.

DA Davidson reiterated its "Buy" rating on Micron Technology and significantly raised its target price from $2,100 to $3,000. This target price represents nearly 176% upside compared to the stock's closing price of $1,088.00 on Wednesday.

Although Trump has stated that "the action must be wrapped up," whether the approach will be "soft or tough" remains undecided. More importantly, in order to boost the election campaign, the White House is planning a "limited strike" against Iran before the election, which is in stark contrast to the previous mainstream market expectation of "pre-election restraint." Coupled with the storm in the Gulf of Mexico shutting down over 25% of crude oil production, frequent attacks on oil tankers in the Strait of Hormuz, and record highs in transnational shipping costs, Brent crude oil has risen above $101.