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On July 17, shares in Japanese semiconductor powerhouse Kioxia took a nosedive, with intraday losses soaring to a staggering 16.1% and hitting a limit down at JPY 52,110. When compared to its all-time high of JPY 112,700 reached on June 22, the current stock price now languishes at less than half that figure. Semiconductor stocks had previously been riding a wave of sustained growth, but investors have recently adopted a more cautious stance, triggering a wave of selling. At one point in June, Kioxia's market capitalization surged to nearly JPY 60 trillion, catapulting it to the top spot on the Tokyo Stock Exchange's main board market. However, by midday on the 17th, its market value had briefly dipped below JPY 30 trillion, causing it to slide to fifth place.
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