Major semiconductor sector stocks in Asia have been hit by the industry’s downgrade from Morgan Stanley. South Korean chipmakers Samsung Electronics and SK Hynix fell 6.56 percent following the lowered rating, while semiconductor-linked stocks in Japan also took a tumble. Morgan Stanley lowered the sector’s rating to “cautious”, reflecting its analysts’ belief that the industry will underperform the market over the coming 12 to 18 months.
Major semiconductor sector stocks in Asia have been hit by the industry’s downgrade from Morgan Stanley. South Korean chipmakers Samsung Electronics and SK Hynix fell over 3% following the lowered rating, while semiconductor-linked stocks in Japan also took a tumble. Morgan Stanley lowered the sector’s rating to “cautious”, reflecting its analysts’ belief that the industry will underperform the market over the coming 12 to 18 months.