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From: Sam7/10/2019 8:32:40 AM
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Japanese curbs seen as chance for South Korean chipmakers to cut stockpiles
By Heekyong Yang and Ju-min Park
Reuters July 10, 2019

By Heekyong Yang and Ju-min Park

SEOUL (Reuters) - Shares in South Korean memory chipmakers Samsung Electronics Co Ltd and SK Hynix Inc rose on Wednesday as investors bet on production cuts due to curbs on the export of key materials from Japan, analysts said.

Samsung and SK Hynix are the companies hardest hit by the Japanese restrictions, the latest salvo in a diplomatic row between Seoul and Tokyo over wartime forced labor.

While the curbs will make it difficult in the short term for South Korea's memory giants to find alternative supplies of the materials, they also could lead to reductions in stockpiles and production which is good news for chip prices.

"In light of Japan's retaliatory action against us, it could be a chance for us to clear out those chips sitting longer on our storage and utilize this opportunity to keep inventory from piling up," a source at a major South Korean chipmaker said, requesting anonymity due to the sensitivity of the matter.

Samsung shares were 1.9% higher and SK Hynix stock was up 4.6% as of 0537 GMT, while the broader index was up 0.6%

continues at finance.yahoo.com
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