Samsung SK Hynix shares rise after China fails U.S. rival Micron in security review
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Reuters
Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo
SEOUL, May 22 (Reuters) - Shares in South Korea's Samsung Electronics and SK Hynix (000660.KS) rose in morning trade on Monday after China failed U.S. memory chip rival Micron Technology (MU.O) in a security review.
China's cyberspace regulator said on Sunday that products made by Micron had failed its network security review, and it would bar operators of key infrastructure from buying from the company.
Samsung shares were up 0.7%, while SK Hynix shares rose 1.1% versus the wider market's (.KS11) 0.8% gain.
China had announced its review of Micron's products in late March, after Washington imposed a series of export controls on chipmaking technology to China.
SK Hynix had no comment. Samsung Electronics did not have an immediate comment.
Reporting by Joyce Lee; Editing by Kim Coghill
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Monday, May 22, 2023 at 12:37 am