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Tech Up As Treasury Yields Tick Down — Tech Roundup

Shares of technology companies rose as investors rotated back into the sector in light of moderation in Treasury yields.

Chip and smart-phone giant Samsung Electronics forecast a 44% rise in operating profit despite its U.S. chip production getting wiped out for weeks due to severe weather in Texas.

Grocery-delivery service Instacart has chosen JPMorgan Chase to issue a credit card that will reward frequent users, The Wall Street Journal reported, and restaurant-delivery service DoorDash is also pursuing a card offering.

Tencent Holdings' largest shareholder is selling up to $14.7 billion worth of stock in the Chinese internet and videogaming giant, cashing in on one of the most lucrative technology bets in history after the pandemic gave a huge boost to the sector.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

April 07, 2021 17:34 ET (21:34 GMT)

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