Higher commodity prices have been one of the key reasons for earnings buoyancy over the last two years. In FY22, the global rally in commodity prices alone accounted for 50% of incremental Nifty earnings growth. Analysts said further downgrades would weigh down markets that are already trading at premium valuations.
SK Hynix overtakes Samsung to become South Korea’s most valuable company
SK Hynix has surged past Samsung Electronics to become South Korea’s most valuable company, driven by its dominance in high-bandwidth memory (HBM) chips crucial for