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● The chip index climbed for a fourth straight day.
● Heavy weighting toward chipmakers helped the index.
● Small caps are usually sensitive to borrowing costs.
● The index remains below its 52-week high.
● Technology, driven by chipmakers, did most of the lifting.
● Major events landed late or after the market close.
● The decline suggested reduced demand for market protection.
● The negative reading has persisted for weeks.
● Memory makers led the rally after SK hynix's record results.
● Rising insurance costs and soft freight volumes weighed on results.
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