Shares of European semiconductor companies are in the red following a selloff in Asian chip stocks. South Korea’s SK Hynix closed nearly 5.1% lower, while Samsung Electronics shed 5.4%. In Europe, shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International are down 1% and 1.4%, respectively.

BE Semiconductor Industries is down 1.7%. German chip maker Infineon Technologies stock loses 1.3%. STMicroelectronics shares are down 0.1%.

Meanwhile, the E-mini Nasdaq 100 futures contract edged 0.8% lower, pointing to a weak opening for tech stocks in the U.S. SK Hynix shares appear undervalued given accelerating memory-chip price increases, says Daishin Securities’ Ryu Hyung-keun. He expects HBM4 to account for 40% of the company’s total 3Q revenue and 50% of its annual revenue in 2027. Daishin maintains its buy rating and 3,200,000 won target price for the stock.

Shares fell 5.0% to close at 1,768,000 won. BT Group’s approach to debt reduction supports the case for future dividends and buybacks, Bernstein analysts write. The U.K. telecommunications company is nearing the end of its fiber investment cycle, which could lead to higher free cash flow.

Shares are up 0.1% at 1.97 pounds. The DRAM shortage will likely keep memory prices high through 2028, Morningstar analyst Phelix Lee says, but momentum could ease as device leaders push back. Telekom Malaysia’s medium- to longer-term outlook appears upbeat, Public Investment Bank analyst Ng Bei Shan says, with shares 1.0% lower at 7.86 ringgit.