finance
Kioxia Shares Fall 16 Percent as Asia AI Chip Stocks Decline
Japan's Kioxia lost half its value since a June peak, erasing roughly $185 billion in market value. Taiwan Semiconductor Manufacturing Co. shares dropped more than 5 percent despite strong earnings. South Korea tightened rules on single-stock leveraged ETFs after weeks of volatility.
Jul 17, 3:20 AM·1m read1 source
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-listed memory stocks, Insider reported. The stock has halved since its June peak, erasing about 30 trillion yen, or $185 billion, in market value. Kioxia rose 631 percent in the first half of the year and ranked as the second-best-performing non-U.S.
Stock in the MSCI All Country World Investable Market Index during that period. Last month it became Japan's most valuable listed company. The selloff extended across the region. Taiwan Semiconductor Manufacturing Co.
Shares fell more than 5 percent on Friday even after the company reported second-quarter profits that jumped 77 percent from a year earlier. Samsung Electronics and SK Hynix shares have each declined roughly one-third from their 2026 peaks. SK Hynix's Nasdaq-listed shares closed 14 percent lower on Thursday.
South Korea's market was closed on Friday. South Korean regulators tightened rules on single-stock leveraged exchange-traded funds after weeks of sharp market swings driven in part by retail participation in AI-related names. Top economist and former PIMCO CEO Mohamed El-Erian said authorities face a delicate balancing act between tackling inflation and heading off excessive financial volatility that could trigger disorderly deleveraging.
