U.S. stock futures edged higher in premarket trading on Monday, with memory chip stocks staging a broad rebound after the previous session’s sell-off. SK Hynix, SanDisk, Western Digital, and Seagate Technology all posted premarket gains exceeding 1%.
As of press time, Dow Jones Industrial Average futures were up 0.11%, Nasdaq 100 Index Futures rose 0.52%, and S&P 500 futures gained 0.21%, with all three major index futures in positive territory, signaling a recovery in investor risk appetite.
Memory chip stocks were the standout performers in premarket trading. In the prior session, the sector had faced broad-based selling, with SanDisk tumbling more than 4% in premarket trading alone, while SK Hynix, Micron Technology, Seagate Technology, and Marvell Technology each fell more than 3%. Today’s premarket action marked a clear reversal, with SK Hynix, SanDisk, Western Digital, and Seagate Technology all recording gains of over 1%.
The optical communications sector was also active. Applied Optoelectronics rose more than 3% in premarket trading, while Corning, Coherent, and Lumentum each gained over 1%, extending the recent strength in optical networking names.
In Hong Kong, the Hang Seng Index closed marginally lower by 0.02% on Monday, and the Hang Seng Tech Index slipped 0.12%, reflecting an overall muted session. However, semiconductor stocks bucked the downtrend, with Chinese chip designers Montage Technology and GigaDevice, along with Chinese foundry Nexchip Semiconductor, all climbing nearly 5%, emerging as rare bright spots in the Hong Kong market.
From a sector rotation perspective, the swift buying support for memory chip stocks following the previous session’s sharp pullback suggests that the market’s medium-term outlook for the sector has not fundamentally shifted due to short-term volatility. The continued strength in optical communications is closely tied to demand for high-speed optical modules driven by AI compute infrastructure buildouts.
Notably, the synchronized strength between U.S. stock futures and Hong Kong-listed semiconductor names indicates that risk appetite across Asia-Pacific and North American markets is converging on the semiconductor supply chain. Investors are closely watching a slate of macroeconomic data due this week, as well as the latest shipment guidance from major memory manufacturers, to gauge the sustainability of the current rebound.