
Falling U.S. stocks and news of Huida CEO's resignation failed to drag down Asian stocks
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U.S. stocks fell on Thursday as Huida CEO Jen-Hsun Huang resigned and the market focused on the prospect of conflict in the Middle East. Japanese companies’ recent financial reports have been impressive, and U.S. AI and semiconductor stocks still performed strongly, supporting the rise in Asian stock markets.
Asian stocks rose. (European News Agency file photo)
[Financial Channel/Comprehensive Report] US stocks fell on Thursday (12th), but Asian stocks had a different trend. The Nikkei Index opened higher today and soared by more than 950 points, while Korean stocks rose by more than 2% in early trading.
Huida CEO Jen-Hsun Huang revealed his extramarital affairs one after another and announced his resignation. The news shocked the world, and investors stopped estimating the prospects of conflicts in the Middle East. The U.S. stock market fell.
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In terms of Asian stock markets, the Nikkei Index opened at 61223.41 points today, an increase of 404.05 points. The index opened higher, once soaring 976.84 points to 61796.20 points. At approximately 9:11 a.m. Taipei time, the Nikkei Index rose 751.50 points, or 1.24%, to 61570.86 points.
According to Reuters, although the U.S. stock market was weak on the previous trading day and the market was concerned about the possible impact of the resignation of Huida CEO Jen-Hsun Huang, Japanese companies have recently delivered outstanding financial reports, and many stocks in the AI (artificial intelligence) and semiconductor groups of the U.S. stock market are still performing strongly. The market expects that the Tokyo stock market is expected to remain strong today (13th).
And in the U.S. market, in addition to Huida, many other AI and semiconductor-related stocks still maintain strong performance, which also brings positive support to the market and offsets the pressure caused by the weakening of some U.S. stocks.
As for the Korean stock market, the South Korea Composite Stock Price Index opened at 5452.41 points today, up 109.68 points from the previous trading day. At around 9:13 a.m. Taipei time, the index was at 5450.47 points, up 107.74 points or 2.02%.
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Huang Renxun, founder and president of Huida, admitted to having extramarital affairs with multiple women and subsequently confirmed his resignation as president, CEO and board member, effective immediately. Chief Financial Officer Coryce will serve as acting CEO. Netizens are worried about the impact on stock prices and Taiwan's supply chain.

The U.S. Department of Justice is investigating whether former Megaspeed executive Huang Le helped smuggle Supermicro products into China. Citing people familiar with the matter, Bloomberg reported that the investigation was led by the U.S. Attorney’s Office, and it was unclear whether the investigation was related to the chip smuggling case that had been filed. Supermicro declined to comment, saying Megaspeed has never been a customer. Justice Minister Blanch said that no conclusion has been reached on whether Huang Le is a Chinese spy.

Huida founder Huang Renxun resigned from the company's president, CEO and board of directors due to the extramarital affair controversy, effective immediately, and CFO Keris served as acting CEO. Internet celebrity Toyz immediately announced the launch of a new hand-drink brand product, and the post attracted more than 2.26 million views.

After Huida CEO Huang Renxun resigned, the market worried that the partnership with KYEC would be affected. However, KYEC’s stock price soared by more than 6% in early trading on the 13th, standing at 228 yuan. KYEC Huida's revenue accounted for 36%, and it is an important supply chain for Huida's high-end AI chip back-end testing. The two parties also signed a prepayment agreement to support the establishment of new testing capacity in the United States.

Gold prices fell 3% on Thursday, closing in the black for the third consecutive trading day, with spot gold trading at $3,880.93 per ounce. Higher-than-expected U.S. inflation, a stronger U.S. dollar, and rising expectations for an interest rate hike by the Federal Reserve, as well as concerns about the future of the AI industry and the extramarital affair scandal of Huida CEO Jen-Hsun Huang, have jointly suppressed gold prices.

Huida CEO Huang Renxun resigned. TSMC is its largest customer, and the market is paying attention to the cooperative relationship between the two parties. TSMC ADR once fell by nearly 2%, but Taiwan stocks rose in early trading on the 13th, with a maximum gain of 2.14%, standing above 2,390 yuan. Huida's board of directors announced that Chief Financial Officer Colette Kress will act as interim CEO and launched the selection of a new CEO, saying that operations, customer commitments and product roadmaps are not expected to be affected. In terms of the three major legal persons, foreign investors resold 3,955 contracts yesterday, and Investment Bank bought for more than 30 consecutive trading days, with a total of 54,000 large purchases.