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Advantest Rises, HSBC Drops, S-Oil jumps
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Advantest shares rose for a fourth consecutive day and reached a record high on Friday on expectations for strong AI chip-related demand while favorable technical position as selling abated following a change in its index weighting, also provided a tailwind
- Global financial stocks have come under pressure as a relentless surge in benchmark Treasury yields — the US 10-year yield touched the highest level since 2002 on Thursday — forces investors to assess the impact of higher borrowing costs on banks’ businesses. HSBC dropped as much as 5.7% in Hong Kong trading.
- Korean oil refiners and those in Japan advance after Chinese exporters cancelled some oil-product cargoes. In South Korea, S-Oil jumps as much as 8.9%, the most since Sept. 4; the stock is among the top gainers in the MSCI Asia Pacific Index, which is down as much as 1%
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