AsiaTech News & Analysis
2 articles
Market Mood
SoftBank (9984) Drops 9.2% Amid Asia Chip Stocks Sell-Off
Shares of SoftBank Group (9984) fell 9.2% as Asian tech stocks were impacted by a downturn in U.S. semiconductor shares. Other companies such as Tokyo Electron and Advantest also declined by 9% and 9.4%, respectively. Additionally, Kioxia's stock plunged over 14% following a $229 million patent infringement ruling. This sell-off in the technology sector raises concerns about AI spending and the sustainability of high valuations, which could lead to more widespread caution among investors.
Read More: SoftBank (9984) Drops 9.2% Amid Asia Chip Stocks Sell-Off
SoftBank (9984) Surges Over 12% Amid Iran-U.S. Peace Deal
SoftBank (9984) saw a rise of over 12% as Asian tech stocks benefited from the announcement of a peace deal between Iran and the U.S. Other major players included Tokyo Electron, which gained 9.19%, and Advantest, which rose 7.69%. South Korean memory giants Samsung Electronics (005930) and SK Hynix (000660) also experienced gains of 4.65% and 6.42%, respectively. The peace agreement is expected to enhance market sentiment and reactivate regional investments, as it includes the termination of military operations and reopening key trade routes.
Read More: SoftBank (9984) Surges Over 12% Amid Iran-U.S. Peace Deal