Philadelphia Semiconductor Index Posts Longest Weekly Losing Streak Since 2008 as China's CXMT Rattles DRAM Makers

3-line summary

• Asia-Pacific stocks edged lower Monday even as China's third-quarter data beat expectations (retail sales up 1.1%, industrial production up 5.5%), as AI-sector jitters persisted; the Philadelphia Semiconductor Index (SOX) fell 11.4% over the past week, its longest weekly losing streak since 2008, Investing.com reported.
• Shares of China's Changxin Memory Technologies (CXMT) fell 7.6% on investor concern over its progress on next-generation DRAM technology, seen as a competitive threat to Samsung Electronics (+0.8%) and SK Hynix (-0.7%); Kioxia rose 1.3% while TDK fell 1.3%, Murata Manufacturing dropped 2.4%, and TSMC slipped 0.6%.
• DDR5 memory prices have risen 79% so far this year and 4.5% this month alone, according to Floodline Research analyst Anna Wu; Nasdaq 100 futures rose 1.3% and S&P 500 futures gained 0.8%, pointing to a rebound after Friday's declines, with Netflix reporting earnings Tuesday and Tesla, Meta, and IBM due Wednesday.

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