Equities in Asia are boosted by the chip sector through positive earnings from Micron and SK Hynix’s announcement it plans a $30bn listing on the Nasdaq. Brent dips to levels last seen before the conflict in the Gulf as the Strait of Hormuz reopens. Futures indicate the world may soon be facing an oil glut. UK Prime Minister in waiting Andy Burnham is reportedly planning an overhaul of No.10 and the Treasury as part of his economic reform agenda. He is also seeking to overhaul the Bank of England’s mandate to push more demand on growth.<br>See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chip stocks feed Asia rally

Squawk Box Europe Express

The CNBC app, global market news in one place. Customizable sections and personalized alerts, stocks tracking, interactive charts and market insights all in your hands. Stay connected, stay informed. Download the CNBC app today. Hello and welcome to Squawk Box Europe. I'm Karen Cho with Steve Sedgwick. These are your headlines. Investors ride the chip rally with

equity markets in Asia and on Wall Street boosted by Blockbuster earnings out of Micron and SK Hynix's plans to raise almost $30 billion through a Nasdaq listing. Brent prices fall to levels last seen before the Iran war as oil begins to flow, whilst futures contracts show the global economy may be facing an oversupply. How extraordinary

in the short term. And UK Prime Minister hopeful, I think, yeah, I mean, it's yet to be coronated, but yes, indeed, hopeful. Andy Burnham is reportedly planning a major overhaul of number 10 and the Treasury as part of his economic agenda, whilst also seeking to reform the Bank of England's mandate

to place a greater emphasis on growth. Let's take a look at chips again, because it was certainly a bumpy ride yesterday. And now shares in SK Hynix surged following the

company's announcement that is looking to raise up to nearly $30 billion in a listing on the Nasdaq. The chipmaker said the move would allow, quote, its true corporate value to be properly evaluated. Trading is set to begin on the 10th of July, although the company warned that the timetable could still change. Well, it doesn't matter. I mean, there's already so many links between South Korea and also the United States. So bring another chip name across to the US markets. What does it mean for those investors? Feels like they're already part of that ecosystem.

Chip stocks feed Asia rally

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Chip stocks feed Asia rally

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.