The market capitalization of South Korean chipmaker SK Hynix (KRX:000660) surpassed $1 trillion on Wednesday, share price data showed.
The stock gained 9.3% on the same day to close at 22,43,000 won.
Bloomberg News reported separately that the performance comes amid a surge in memory-chip stocks and adds SK Hynix to join the $1 trillion market value club with peers Samsung Electronics (KRX:005930) and Micron Technology.
ByteDance will offer low-priced stock options linked to its Seed AI division in a bid to retain talent, the Financial Times reported Tuesday, citing four people with knowledge of the matter.The stock options will expose staff to the AI division without diluting the TikTok owner's other business segments, the FT said.The move comes as tech rivals including Tencent (HKG:0700) have begun poaching ByteDance's researchers, according to the report.Seed has one of the largest concentrations of top AI talent in China, according to the newspaper.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Client Service International (SHE:300663) said its board proposed downwardly revising the conversion price of its Kelan convertible bond after the stock price triggered the adjustment condition.The board wants to lower the price further to support long-term growth and optimize capital structure, according to a Wednesday filing with the Shenzhen bourse.The initial conversion price is 16.02 per share. It is currently at 13.20 yuan per share.The proposal requires approval from a two-thirds shareholder vote, with bond-holding investors abstaining.Shares of the financial software and information technology services provider closed 3% lower Wednesday.
Desco Infratech (BOM:544387) has secured an order worth 56.2 million Indian rupees from KP Energy and GAIL Gas, according to a BSE filing on Wednesday.The contract is for the supply and installation of works relating to cable laying, HDPE pipes, optic fiber cable works, termination kits, and allied infrastructure works.It also includes a hiring contract for laying of underground MDPE pipeline and associated works for Gail Gas Bengaluru city gas distribution projects.The company's shares were down over 3% in recent trade.