Japan, South Korea Stocks Close Mixed: Kospi Bounces From Lows to Gain 0.30%, SK Hynix Rebounds Over 4%, Samsung and Kioxia Turn From Losses to Gains
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On October 23, Japanese and South Korean equities closed mixed, following severe volatility in memory chip stocks driven by AI investment financing pressures and shareholder equity concerns. South Korea's KOSPI rebounded 0.30% to 5,550.30 points after an intraday drop of up to 4.12%, while Japan's Nikkei 225 fell 0.34% to 62,693.11 points. Major memory stocks, including Samsung Electronics, SK Hynix, and Kioxia, recovered from earlier losses. Notably, SK Hynix suspended its U.S. subsidiary Solidigm’s listing plans amid regulatory and shareholder concerns, though it reaffirmed ongoing commitment to growth financing and shareholder value enhancement.
TradingKey - On October 23, Japanese and South Korean stock markets closed mixed. South Korea's KOSPI Index closed up 0.30% at 5,550.30 points, while Japan's Nikkei 225 Index closed down 0.34% at 62,693.11 points.
Source: TradingView
Earlier, South Korean stocks faced another sell-off. On October 22, the KOSPI dropped 3.52% to close at 5,533.77 points, erasing all gains from the previous session's rebound. On October 23, the index opened lower and fell as much as 4.12% intraday to 5,305.98 points, before gradually recovering lost ground to close in the green.
Among individual stocks, memory chip stocks rebounded. Samsung Electronics rose 0.47% to 215,500 won ($162.64); SK Hynix gained 4.74% to 1.281 million won. In the Japanese market, Kioxia rose 1.27% to 12,755 yen ($81.17), while SoftBank Group fell 0.67% to 4,276 yen, with the above stocks turning from sharp losses to gains.
Regarding the recent severe volatility in memory chip stocks, AI investment financing pressures and shareholder equity issues remain the focus of market attention. On October 23, SK Hynix announced that, considering market volatility, it is suspending plans to list its subsidiary Solidigm in the U.S. Previously, South Korean regulatory authorities expressed concerns that the plan might harm the interests of the parent company's shareholders. However, SK Hynix stressed that this decision does not indicate a change in Solidigm's growth prospects or investment needs, and that the company will continue to explore financing options to support its expansion and enhance shareholder value.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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