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The stocks of Samsung Electronics Co. and SK hynix Inc. showed sharp declines on Thursday morning, following overnight concerns about a potential slowdown in memory demand.

Shares of Samsung Electronics were trading at 183,700 won ($121) as of 9:14 a.m. on Thursday, down 2.8 percent from the previous session. The stock opened at 185,500 won, down 1.85 percent, and at one point fell to 183,500 won.


SK hynix shares also plummeted 3.72 percent to 958,000 won on Thursday.

Google LLC unveiled the TurboQuant algorithm, which expected to cut memory requirements for running AI models by up to sixfold, dampening investor sentiment in semiconductor stocks.

The unease was reflected in U.S. markets overnight, where stocks of major storage and memory firms, including Micron Technology Inc., SanDisk Corp., Western Digital, and Seagate Technology, declined.

Market participants, however, cautioned against overreacting.

“The technology is still in the research stage and may take time to reach mass production,” said Han Ji-young, an analyst at Kiwoom Securities Co. “The news may have triggered profit-taking after a strong rally in memory stocks earlier this year.”



Separately, shares of digital healthcare company Mezoo Co. soared three times their initial public offering (IPO) price on the first day of its Kosdaq listing on Thursday.

Mezoo shares were trading at 66,050 won as of 9:11 a.m., up 205.79 percent from the offering price of 21,600 won.

Immediately after the market opened, the stock rose as high as 73,500 won, 3.4 times the IPO price.

Mezoo, founded by researchers from Yonsei University, develops biosignal-based monitoring platforms to bridge gaps between in-hospital and remote patient care.

The company saw strong investor demand during its IPO process, with a competition ratio of 1,108.93-to-1 during the bookbuilding session. The offering price was set at the top of the desired range.

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