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Real-time News
March 26th Futures News: 1. WTI crude oil futures trading volume was 1,031,433 lots, a decrease of 122,774 lots from the previous trading day. Open interest was 1,993,722 lots, a decrease of 8,343 lots from the previous trading day. 2. Brent crude oil futures trading volume was 230,750 lots, a decrease of 19,198 lots from the previous trading day. Open interest was 316,280 lots, an increase of 651 lots from the previous trading day. 3. Natural gas futures trading volume was 300,521 lots, a decrease of 90,680 lots from the previous trading day. Open interest was 1,505,694 lots, an increase of 1,642 lots from the previous trading day.On March 26, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with outgoing Indian Ambassador to China, Rohto Kolinda, in Beijing. Wang Yi praised Rohtos efforts and contributions to the development of China-India relations. Wang Yi stated that under the strategic guidance of the leaders of both countries, China-India relations have embarked on the right track of improvement and development. China and India are two major neighbors and two major emerging economies, and their common interests far outweigh their differences. Without the modernization of China and India, there is no modernization of the world. Faced with a complex and volatile international situation, China is willing to work with India to implement the important consensus reached by the leaders of the two countries, adhere to the principle that each country is a development opportunity for the other, not a threat, and is a partner rather than a competitor; expand mutually beneficial cooperation in various fields; safeguard the common interests of the Global South; strengthen multilateral cooperation within mechanisms such as BRICS; and consolidate the hard-won positive momentum of China-India relations.On March 26, it was learned that Belarusian President Alexander Lukashenko and North Korean General Secretary of the Workers Party of Korea and Chairman of the State Affairs Commission Kim Jong Un signed a treaty of friendship and cooperation between the two countries in Pyongyang. Lukashenko stated that this foundational document outlines the goals and principles of bilateral cooperation and establishes the institutional framework for future mutually beneficial processes. During his talks with Kim Jong Un, Lukashenko indicated that relations between Belarus and North Korea have entered a new phase. Lukashenko arrived in Pyongyang on March 25 for a two-day visit to North Korea. This is the first visit to North Korea by a Belarusian leader.March 26 – Investors are searching for the “pain point” that could prompt President Trump to change his policy on the Iran war, as the president’s social media posts have triggered sharp fluctuations in the oil market. Since Trump launched his Middle East wars, he has often intensified his threats against Iran during weekend oil market closures and hinted at impending peace when oil prices rise. This pattern highlights the central role of the oil market in the conflict process and the White House’s success in preventing oil prices from spiraling out of control – at least so far. “It’s clear that Trump is afraid of high oil prices… Gasoline prices above $4 are politically fatal,” said Jorge Montepek, an oil analyst at Onyx Capital Group. “On the other hand, his pride is also important. He can’t let himself look like he’s lost.” A veteran energy trader noted a clear pattern: whenever U.S. oil prices approach $95 to $100 a barrel, the government’s conciliatory rhetoric increases, and market speculation about potential government intervention in the oil market intensifies.On March 26, Russian Foreign Ministry spokeswoman Maria Zakharova stated at a regular press conference on March 25 that Japans intensified military cooperation with Ukraine would further diminish the prospects for a peaceful resolution to the Russia-Ukraine conflict. According to the Russian Foreign Ministry website, Zakharova commented on Japanese media reports that the Japanese government was considering purchasing Ukrainian-made drones. She said such reports indicate that Japan is increasingly involved in military cooperation with Ukraine, given the Ukrainian authorities public expression of a desire to exchange drones for other weapons. Zakharova reiterated Russias warning, stating that any attempt by the Japanese leadership to provide lethal weapons and military equipment to Ukraine would be considered a hostile act by Russia and would inevitably provoke severe retaliatory measures.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.