I’m watching the weekend perpetuals on Hyperliquid, since after storage stocks got hammered in New York on Friday, Seoul and Tokyo stayed closed with no trading.
The price action looks pretty ugly: SK Hynix fell 6.2%, Samsung fell 5.1%, and Kioxia fell 5.4%—the major Asian storage names are all moving lower in lockstep.
The U.S. storage stocks didn’t hold up either: $SNDK fell 3.3%, $MU dropped 2.3%, and $STX plunged nearly 5%, while the other storage stocks also drifted lower.
This move in the weekend contracts is effectively pricing in the gap at Monday’s Asian open ahead of time.
The price action looks pretty ugly: SK Hynix fell 6.2%, Samsung fell 5.1%, and Kioxia fell 5.4%—the major Asian storage names are all moving lower in lockstep.
The U.S. storage stocks didn’t hold up either: $SNDK fell 3.3%, $MU dropped 2.3%, and $STX plunged nearly 5%, while the other storage stocks also drifted lower.
This move in the weekend contracts is effectively pricing in the gap at Monday’s Asian open ahead of time.