Middle East conflict pauses, European chip stocks surge

Glonghui, July 27th — After the Trump administration halted plans to escalate the war with Iran and global stock markets were boosted, European semiconductor stocks started the week higher. In Asia, South Korean memory chip manufacturer SK Hynix closed up by 3.3%. In Europe, Dutch semiconductor equipment manufacturer ASML and its smaller competitor ASM International saw their share prices rise by 1.7% and 0.5%, respectively. German chip manufacturer Infineon Technologies increased by 2.1%. STMicroelectronics’ share price rose by 1.9%. Meanwhile, Nasdaq 100 index futures contracts gained 1.6%, indicating a strong opening for US technology stocks.