⌂ Home News Samsung Earnings Surge Fails to Prevent Asian Tech Stock Slump

Samsung Earnings Surge Fails to Prevent Asian Tech Stock Slump

Samsung Earnings Surge Fails to Prevent Asian Tech Stock Slump
Samsung Electronics stock price decline on Asian market
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"The first proper AI stress test may not have arrived with weak demand, a capex warning, or some sudden crack in the data center story.

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It may have arrived with Samsung posting an extraordinary quarter and the stock falling anyway," said Innes.

Broader Asian Selloff

The tech selloff spread to other major Asian hubs as Tokyo's Nikkei 225 index declined 1.8% to 68,493.52, with chip manufacturer Tokyo Electron losing 3.4% and Kioxia Holdings shedding 10.7%.

In Hong Kong, the Hang Seng index slid 0.4% to 23,517.70, while China's Shanghai Composite index gave up 1% to land at 3,999.03.

The downward movement contrasted with gains recorded on Wall Street the previous day, where the S&P 500 climbed 0.7% to 7,537.54 and the Nasdaq composite added 1.1% to reach 26,121.16.

Broadcom provided the largest boost to U. S.

indexes after securing long-term semiconductor supply agreements with Apple.

Meanwhile, international energy benchmarks reacted to geopolitical tensions near the Strait of Hormuz, where an oil tanker traveling off the coast of Oman caught fire after being struck by an unidentified projectile on Monday.

Brent crude oil rose 52 cents to settle at $72.51 a barrel, while U. S.

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West Texas Intermediate crude increased 43 cents to reach $68.98 a barrel.

J
Editors Team
Author: Johan Robert
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