Samsung's Outperforming Earnings Trigger Slump as Kioxia Plunges Over 12%, AI Computing Power Concerns Batter Memory Chip Sector
TradingKey - During the Asian trading session on July 7, Japanese memory chip giant Kioxia Holdings plummeted over 12% at one point, leading losses in the Japanese and South Korean semiconductor sectors. SoftBank Group fell over 4%, while South Korean tech giants SK Hynix and Samsung Electronics both tumbled by approximately 10% at one point. As of press time, Kioxia was down 11.24% at 72,420 yen per share. Dragged down by the collective weakness in chip stocks, the Nikkei 225 Index fell 1.75% to 68,576.85 points.