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Sector Update: Tech Stocks Edge Higher Premarket Tuesday

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Technology stocks were higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 2.3%.

Taiwan Semiconductor Manufacturing (TSM) and Sony Semiconductor Solutions, a subsidiary of Sony Group (SONY), said they agreed to establish a joint venture in Kumamoto Prefecture in Japan, to develop and manufacture advanced image sensors for smartphones, with volume production expected to begin in 2029. Shares of Taiwan Semiconductor were nearly 1% higher pre-bell.

SK hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%, Seoul Economic Daily reported, citing semiconductor industry sources. SK hynix shares were up more than 2% pre-bell.

Ouster (OUST) stock was up more than 2% after the company said Econolite was awarded an expansion contract by the Utah Department of Transportation to deploy Ouster's BlueCity lidar sensor traffic management at an additional 160 intersections statewide.

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Sector Update: Energy Stocks Rise Late Afternoon

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