Kioxia hits limit-down amid sharp declines in Micron and SanDisk
Kioxia Holdings <285A> shares opened with overwhelming sell orders on Monday, triggering a sharp drop in the stock price. The shares gapped down significantly below their 5-day moving average, which had been serving as a support line. Last week, the company surpassed SoftBank Group Corp. <9984> to become the second-largest firm by market capitalization on the Prime Market, drawing widespread attention. However, there was no time to savor that milestone today as the stock plunged.
On Wall Street on Friday, the tech-heavy Nasdaq Composite Index plummeted by over 1,100 points, but the rout was even more dramatic for the Philadelphia Semiconductor Index (SOX), which cratered more than 10% in a historic crash. In the Tokyo market, Kioxia?a bellwether for the AI and semiconductor rally?along with a broad range of peer stocks, faced heavy selling pressure. Major U.S. memory chipmaker Micron Technology
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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