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Fund: S Korea Memory Chip Stocks, Still Cheap, To Rank among Top Gainers if Mideast Tensions Ease
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Arjun Jayaraman, a fund manager at Causeway Capital Management, said in an interview that memory chip stocks in South Korea remain grossly cheap and could rank among the top gainers if tensions in the Middle East de-escalate further, Bloomberg reported. The firm's USD3.4 billion EM fund outperformed 96% of its peers over the past three years. His view contrasts starkly with that of other investors. Overseas investors net sold USD17 billion worth of shares in Samsung Electronics and SK Hynix in March. This prompted a 23% slump in Samsung Electronics share price and a 24% plunge in SK Hynix, notching their largest single-month downfall since at least 2008. Auto-translated by AI AASTOCKS Financial News |
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