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Chart: Speculative Sentiment Index on August 20, 2026 (Thursday)On August 20, at a regular press conference, Ministry of Commerce spokesperson He Yadong responded to a question regarding the US tariffs on drones, stating that China has noted the US decision to impose Section 232 tariffs on drones and components. China has consistently maintained that the US Section 232 measures are unilateralism and protectionism implemented under the guise of "national security." In fact, Chinas drone exports to the US are mainly used in civilian applications such as agriculture, equipment inspection, and film and entertainment. He Yadong stated that the US Section 232 measures overgeneralize the concept of national security, impose differentiated tariff rates on trading partners, discriminate against related Chinese products, seriously damage the interests of Chinese enterprises, disrupt the global drone supply chain, and further undermine a fair and competitive market environment. China firmly opposes this. We urge the US to immediately withdraw the relevant Section 232 tariff measures.Futures News, August 20th: Shanghai Futures Exchange (SHFE) precious metals and non-ferrous metals warehouse receipts and changes on August 20th: 1. Copper futures warehouse receipts: 53,079 tons, a decrease of 3,619 tons compared to the previous trading day; 2. Aluminum futures warehouse receipts: 285,231 tons, a decrease of 5,305 tons compared to the previous trading day; 3. Zinc futures warehouse receipts: 115,060 tons, a decrease of 1 ton compared to the previous trading day; 4. Lead futures warehouse receipts: 63,918 tons, a decrease of 1,572 tons compared to the previous trading day; 5. Nickel futures warehouse receipts: 102,197 tons, an increase of 199 tons compared to the previous trading day; 6. Tin futures warehouse receipts totaled 5,424 tons, a decrease of 167 tons from the previous trading day; alumina futures warehouse receipts totaled 243,016 tons, a decrease of 35,961 tons from the previous trading day; alumina futures factory warehouse receipts totaled 9,300 tons, unchanged from the previous trading day; gold futures warehouse receipts totaled 113,664 kg, unchanged from the previous trading day; silver futures warehouse receipts totaled 1,374,017 kg, an increase of 4,973 kg from the previous trading day; and international copper futures warehouse receipts totaled 4,677 tons, a decrease of 1,250 tons from the previous trading day.August 20th - Eurozone government bond yields edged lower, mirroring the trend in US Treasury yields, following the US Treasurys decision to increase the scale of long-term government bond buybacks. Commerzbank strategist Erik Liem stated in a report, "German government bonds continue to show signs of stabilization after the US Treasury released positive news regarding bond buybacks." On the bond supply side, France will hold two government bond auctions: the first auctioning short- and medium-term nominal bonds, and the second auctioning inflation-linked bonds.The UK FTSE 100 index opened down 9.10 points, or 0.08%, at 10734.25 on Thursday, August 20th; the French CAC 40 index opened up 1.63 points, or 0.02%, at 8503.54; the Euro Stoxx 50 index opened down 1.71 points, or 0.03%, at 6442.75; the Spanish IBEX 35 index opened down 21.13 points, or 0.11%, at 19826.37; the Italian FTSE MIB index opened up 43.80 points, or 0.08%, at 52662.00; and the German DAX 30 index opened down 61.28 points, or 0.23%, at 26068.5.

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%.


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