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Kioxia Drops, SK Hynix Falls, Kingdee Surges
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Kioxia and Sandisk’s plan to spend more than ¥5 trillion ($31.4 billion) to boost chip production capacity is raising oversupply concerns that are likely weighing on the Tokyo-based company’s shares, according to Iwai Cosmo Securities. Kioxia shares fell 4.8% at the close of morning trading session in Tokyo. The tech-heavy Nikkei 225 meanwhile was up 0.8%.
- SK Hynix is exploring ways to deepen its cooperation with Japanese customers and suppliers in the memory industry, Chief Executive Officer Kwak Noh-Jung said. Shares fell by as much as 4.7%
- Kingdee rose as much as 11% as software stocks follow the huge move in the US in the wake of Nvidia's latest earnings announcement.
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