China will challenge South Korea's memory dominance: UBP

• Bullish on South Korean memory stocks (Samsung, SK Hynix) due to high demand exceeding supply, despite recent volatility.
• China's increasing chip capabilities, including foundries like SMIC and Hua Hong Grace, pose a growing competitive threat to major memory players.
• The AI trade is seen as a pervasive driver of growth and productivity across the tech sector, with chips currently being the primary bottleneck.

Kieran Calder of UBP remains bullish on South Korean memory stocks like Samsung and SK Hynix, citing strong demand over supply. He acknowledges China's growing chip capabilities as a competitive threat but believes the broader AI trade will continue to drive productivity and growth across the semiconductor sector.