US Stock Market Movement | Storage Chip Concept Stocks Mostly Decline, Seagate Technology (STX.US) Drops Over 6%

According to Zhitong Finance APP, on Monday, storage chip stocks mostly declined. Seagate Technology (STX.US) fell over 6%, Western Digital (WDC.US) fell over 5%, SK Hynix (SKHY.US) dropped over 4%, Micron Technology (MU.US) decreased more than 3%, and SanDisk (SNDK.US) slipped over 1%.

Morgan Stanley upgraded its rating on the Korean stock market to "overweight", stating that the previous sharp deleveraging is nearing its end. KOSPI valuations have fallen to historically low levels, providing investors with a more attractive entry opportunity. The target price is 9,000 points, implying a potential upside of 36% from current levels.

Morgan Stanley stated that KOSPI's forward price-to-earnings ratio has dropped to 5.7 times, a record low; about 75% of hedge funds' deleveraging has been completed, the scale of leveraged ETFs has shrunk by 70% from its peak, and the shareholding structure has significantly improved. Capital management trends, HBM4 pricing, and the iPhone 18 release cycle are the three core catalysts for the next stage of gains in Korean stocks.