3️⃣Chip Stock Rebound Continues as Crypto Markets Follow Risk Assets Higher On July 22, the semiconductor rebound that has driven crypto gains this month extended into a second session. The MSCI Asia Pacific Index rose 1%, with South Korea's KOSPI surging as much as 5% in early trading, led by SK Hynix with gains exceeding 13%. The Philadelphia Semiconductor Index rose more than 5% the previous day, recovering from bear market territory. Analysts noted that the chip stock selloff triggered by concerns over Chinese AI competition has temporarily reversed into renewed buying of tech stocks, driving a broader recovery in risk appetite. Cryptocurrencies followed the rebound, with Bitcoin holding near $66,300 and Ethereum hovering above $1,920, both maintaining two-week highs. #ChipStocks #RiskAppetite #TechStocks #CryptoMarket #Rebound https://t.co/yLGTDX0XaA
BitBabyEXShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.