Japanese memory chip maker Kioxia Holdings saw its shares decline sharply amid a broader semiconductor sell-off. The stock remains up more than 2,000% since its December 2024 IPO, highlighting extreme volatility and a debate over the sustainability of peak NAND earnings.
Taiwan's benchmark stock index closed with a marginal gain on Friday, as strength in the technology and energy sectors was largely counteracted by steep declines in other individual stocks.
Australia's benchmark stock index fell 0.75% on Friday, dragged lower by losses in the mining, technology, and gold sectors amid weakening commodity prices and rising market volatility.
AstraZeneca's shares have fallen 10% this year after a key drug trial failure erased some $20 billion in market value, shifting investor focus to upcoming results from its pivotal oncology pipeline.
Shares of Hyundai Motor Co. fell sharply after the automaker's second-quarter profit missed analyst estimates and the announcement of new U.S. tariffs on South Korean goods rattled investors.
The chipmaker's stock surged after it projected over 22% growth in first-half net profit, driven by market share gains in its core TV chip business and growth in new AI-focused products.
Shares in the Chinese automaker jumped 3% after it announced a partnership with Ford Motor to acquire a stake in its Valencia plant, a strategic move to establish a manufacturing base inside the European Union.
Fueled by the global AI buildout, Chinese memory chip makers like CXMT and YMTC are commanding higher prices, securing multi-billion dollar deals, and preparing for major IPOs, even as they face increased scrutiny from Washington.
The United States has imposed a 12.5% tariff on apparel from Vietnam, a higher rate than that applied to regional competitors, potentially eroding the country's competitive edge in its largest export market.
