Superconductor LK-99 Breakthrough Buzz Spurs China, Korea Tech Rally

Superconductor LK-99 Breakthrough Buzz Spurs China, Korea Tech Rally​

Bloomberg News
Wed, August 2, 2023 at 11:15 AM GMT+5:30·2 min read

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Superconductor LK-99 Breakthrough Buzz Spurs China, Korea Tech Rally​

(Bloomberg) -- Claims about a breakthrough in superconductor technology that could revolutionize the power, transportation and chip industries have sparked surges in some Korean and Chinese stocks even as scientists remain dubious.
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Small caps including Duksung Co., Sunam Co. and Shinsung Delta Tech Co. jumped by their 30% daily limits for a second-straight day in Seoul. In China, Jiangsu Fasten Co. and Henan Zhongfu Industry Co. climbed by their 10% limits for a second session.
Stocks seen as related to the technology have been rising since a July 22 report from South Korean researchers stating that they had synthesized the world’s first superconductor able to conduct electricity at room temperature and ambient pressure. The superconductor utilizes a lead-based material dubbed LK-99.

“If LK-99 is proved to be true and able to be mass-produced, it would be disruptive for a wide range of industries,” Nick Cheng, an analyst at Jefferies Financial Group Inc., wrote in a note. Cables could be made that transmit power without loss, saving energy, and advancements could be made in computer chips, rail transport and medical imaging as well, he said.
Ming-Chi Kuo, an influential analyst at TF International Securities Group Ltd., said that this technology could be a game changer when it becomes commercialized.

Excitement grew further after a video of a team of Chinese scientists replicating the Korean team’s findings went viral. Still, Jefferies’ Cheng notes commercialization seems difficult and LK-99 appears to have insufficient ductility to be made into wires.
“If true, the discovery would be one of the biggest ever in condensed matter physics and could usher in all sorts of technological marvels,” a July 27 report in Science said. But the Korean team’s papers are “short on detail and have left many physicists skeptical,” the report added.

Investors continue to pile in despite doubts on the technology and the boost it may provide for various companies. Outside of Asia, unprofitable American Superconductor Corp. surged by a record 60% Tuesday on volume more than 43 times its daily average, though it seems to have no link to the Korean research.
Japanese cable makers including Sumitomo Electric Industries Ltd. have “spiked” recently on longer term expectations for their efforts in superconductor-related products, Atsushi Yamaguchi, an analyst at SMBC Nikko Securities Inc. wrote in a report. “That said, we have heard no talk of developing LK-99, the current hot topic in the market,” he added.
--With assistance from Jeremy R. Cooke.
(Updates moves, adds context; adds comment on Japanese cable makers in last paragraph)
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[hirobo2]

If it sounds too good to be true, it probably is. Seems LK-99 is full of hot air -- magnetic levitation confirmed, super-conduction not proven!

BTW, I became highly suspicious when the research came from a Korean Team. Koreans have a huge ego complex, not as bad as Indians with their quantum mouths. BUT among the North-East Asians of Chinese, Japanese and Koreans, South Koreans are usually the ones that let their ego demon get the better of them... Hence, their tendency to brag where no concrete evidence exists!

 

[S10]

Let's wait for a few more replicated results from different labs first. I do admit this sounds way too good to be true at this point.

If legit, it's no less of a breakthrough for our generation as the steam engine did for industrial age.

 

[Han Patriot]

If it sounds too good to be true, it probably is. Seems LK-99 is full of hot air -- magnetic levitation confirmed, super-conduction not proven!

BTW, I became highly suspicious when the research came from a Korean Team. Koreans have a huge ego complex, not as bad as Indians with their quantum mouths. BUT among the North-East Asians of Chinese, Japanese and Koreans, South Koreans are usually the ones that let their ego demon get the better of them... Hence, their tendency to brag where no concrete evidence exists!

South Koreans tend to have a cultural inferiority complex vs China. They are proud of being 'richer' than China but feel insecured that their culture is basically Chinese derived.

 

[StraightEdge]

https://twitter.com/x/status/1687728296727920640

Nice ELI5 about this topic.

https://twitter.com/x/status/1685416132612632576

 

[casual]

labs all over the world is trying to replicate the results and so far no one has managed to achieve anything near room temperature superconductivity. Sounds more and more like it's fake.