STOCKS | Nomura Cites China Memory Chip Concerns, ETF Rebalancing as Korea Chip Stocks Slide

U.S. futures and Asian equities were mixed as technology shares lost momentum, with South Korea’s market falling more than 2% and the Nikkei 225 down about 0.7%, while A-shares, Taiwan stocks and Hong Kong stocks rose, lifting the Hang Seng Index and the Hang Seng China Enterprises Index to nearly two-week highs, according to Ming Pao. Bloomberg reported that Nomura said market concerns over the rise of China’s memory chip makers could worsen industry supply-demand conditions, while position adjustments in leveraged semiconductor ETFs listed in South Korea triggered profit-taking, making them the main reasons behind the decline in chip stocks.