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SK Hynix Falls, Zhongji Innolight Declines, Northern Star Jumps
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- SK Hynix shares fell as media reports of a potential listing of the chipmaker’s US subsidiary added to concerns over its complex ownership structure.
- Chinese shares touched a one-year low, led by a selloff in technology firms after a report that authorities may allow purchases of Nvidia’s new chips and proposed US sanctions on foreign optical producers.Optical companies Zhongji Innolight and Eoptolink Technology were among the top decliners, down at least 5% each.
- Australia’s biggest gold miner Northern Star Resources rejected a cash-and-shares takeover approach from South African rival Gold Fields Ltd. valuing it at A$38.7 billion ($27.1 billion). Shares in Northern Star jumped as much as 11% to A$24.46, closing in on the bid’s implied price. They closed at A$23.47.
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