Woofun AI reports that SK Hynix shares declined over 8% and Samsung Electronics fell more than 7% in South Korean trading. This downturn coincides with criticism directed at Morgan Stanley following a July 21 report by Technology Research Director Shawn Kim, which suggested the AI-driven storage cycle is nearing a turning point and memory prices may peak in Q4. The report noted NAND inventory rising to 13 weeks and advised selling DRAM when NAND trends downward.

Morgan Stanley was excluded from the joint lead underwriter list for SK Hynix's $26.5 billion ADR listing, while JPMorgan, Bank of America, Citigroup, and Goldman Sachs were selected. With estimated fees around $130 million, sources indicate Morgan Stanley's Seoul office is reviewing whether negative semiconductor coverage impacted its investment banking business. This incident adds to recent controversies involving SpaceX and IGIS Asset Management, highlighting tensions between research independence and banking interests.