NEC continues to battle near 25-day moving average after announcing strategic defense partnership with Mitsubishi Heavy Industries
NEC Corporation <6701> opened higher, trading in a tug-of-war near its 25-day moving average. On the 2nd, the company announced it signed a memorandum of understanding with Mitsubishi Heavy Industries, Ltd. <7011> for a strategic defense partnership. As demand grows for AI-driven defense capabilities, the two companies will strengthen collaboration in operational planning, command and control, and unmanned assets.
Adding support to NEC, given its software exposure, shares of U.S. big data management service provider Snowflake
However, as a large-cap 01 stock, the company faces fund-driven selling pressure amid rising rate expectations, capping gains.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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