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Regional governor: A thermal power plant in Kherson, Ukraine, has suspended operations following Russian attacks.The onshore yuan closed at 7.0690 against the US dollar at 16:30 on December 4, down 29 points from the previous trading day.Germanys construction PMI for November was 45.2, compared to 42.8 in the previous month.On December 4th, the World Gold Council stated that gold experienced a remarkable 2025, hitting over 50 all-time highs and yielding returns exceeding 60%. This performance was supported by a combination of heightened geopolitical and economic uncertainty, a weaker dollar, and positive price momentum. Investors and central banks increased their gold allocations, seeking diversification and stability. Looking ahead to 2026, geopolitical and economic uncertainties will influence golds outlook. Gold prices broadly reflect consensus expectations for the macroeconomy, and if the current situation persists, prices are likely to remain range-bound. However, based on this years performance, 2026 could continue to be surprising. If economic growth slows and interest rates fall further, gold could see modest gains. Gold could perform strongly during a more severe economic downturn characterized by increased global risks. Conversely, if the Trump administrations policies succeed, accelerating economic growth and reducing geopolitical risks could lead to higher interest rates and a stronger dollar, thus pushing down gold prices. Other factors, such as central bank demand and gold recycling trends, could also influence the market. Most importantly, golds role as a source of portfolio diversification and stability remains crucial in a volatile market.ECB Executive Board member Cipollone: We expect the savings rate to decline, and if this does not happen, action will be needed.

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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