SK hynix opened +3.03% on 13 November and closed -3.03%, at ₩1,216,000, against its 12 November close: about $20.8 billion of market value lost on the day, by our arithmetic on Yahoo Finance data. All eleven of the Asian Nvidia suppliers and partners we track opened above their 12 November closes; five closed below them, and ten of the eleven closed below their own opening price.
An evergreen Business Engineer explainer on concentration, where a few holdings or customers account for most of the value. It teaches the general idea only and does not discuss today’s market moves.
The key insight: All eleven Asian Nvidia suppliers and partners we track opened above their 12 November closes on 13 November, and ten of them closed below their own opening price. SK hynix went from +3.03% at the open to -3.03% at the close, about $20.8 billion of market value on the day, by our arithmetic on Yahoo Finance data.
Taipei: TSMC opened +1.50% and closed at NT$2,350, +0.43%. Hon Hai opened +1.67% and closed at NT$241, +0.42%. Quanta opened +1.44% and closed at NT$276.5, -0.72%. Wistron opened +2.35% and closed at NT$171, +0.59%. Wiwynn opened +3.50% and closed at NT$1,635, +4.14%. The Taiex closed +1.35%.
Seoul: SK hynix opened +3.03% and closed at ₩1,216,000, -3.03%. Samsung Electronics opened +2.88% and closed at ₩206,000, -0.96%. The KOSPI closed -0.98%.
Tokyo: Advantest opened +4.25% and closed at ¥30,610, +2.08%. Tokyo Electron opened +3.40% and closed at ¥9,461, +1.69%. SoftBank Group opened +1.04% and closed at ¥3,547, -5.11%. Ibiden opened +4.49% and closed at ¥6,087, -4.05%. The Nikkei 225 closed +0.53%.
Every change is against that stock’s 12 November close. The median opening move of the eleven was +2.88% and the median close +0.42%, by our arithmetic. The largest give-back from open to close was Ibiden, 8.54 percentage points; Wiwynn was the only name to close above its opening price.
Eleven Asian Nvidia suppliers and partners on 13 November: opening price and close, each as a change against the 12 November close (Yahoo Finance data, close 13 Nov). The selection and the changes are our arithmetic.
Two Sessions, Side by Side
The 12 November Asian session closed after Nvidia’s 11 November after-hours fall and before we reported the 8-K. At that close, Quanta and Wiwynn fell about 6.5% each. Across the two sessions, from the 11 November close to the 13 November close, nine of the eleven were lower, by our arithmetic.
The two-session moves: Ibiden -12.04%; SoftBank Group -7.99%; Quanta -7.21%; SK hynix -4.78%; Wiwynn -2.68%; Advantest -2.64%; Wistron -2.01%; TSMC -1.88%; Hon Hai -0.41%; Samsung Electronics unchanged; Tokyo Electron +2.04%. Ibiden fell 8.32% on 12 November and 4.05% on 13 November. Tokyo Electron rose in both sessions.
Eleven Asian Nvidia suppliers and partners over two sessions: each stock’s change against the 11 November close at the 12 November close and at the 13 November close (Yahoo Finance data, close 13 Nov). The changes are our arithmetic.
The Market Value Arithmetic
For the seven Seoul and Taipei names, we multiplied exchange share counts by the change in price. At their opening prices they were worth a combined $78.2 billion more than at the 12 November close. At the close they were worth $20.2 billion less, a swing of about $98.5 billion within the session, by our arithmetic.
By name, at the close: SK hynix -$20.8 billion; Samsung Electronics -$8.8 billion; Quanta -$250 million; Wistron +$104 million; Hon Hai +$428 million; Wiwynn +$1.1 billion; TSMC +$7.9 billion. Local-currency amounts are converted at the exchange rates Yahoo Finance showed at 07:20 UTC. Share counts are the issued common shares in the Taiwan Stock Exchange’s listed-company data dated 12 November 2026, and the listed common shares implied by Korea Exchange market value on Naver Finance on 11 November. Samsung’s figure covers common shares only. We did not compute Tokyo market values.
How the Session Was Read
A Dow Jones markets story carried by MarketScreener at 07:12 UTC was headlined “Asia’s Stock Rebound Fades as Nvidia Uncertainty Lingers”. It opened: “The tentative rebound in Asia’s bruised technology stocks faded Friday afternoon as bearish sentiment overpowered the initial lift”. Earlier, at 03:53 UTC, Google News listed a Wall Street Journal story headlined “Asia Stocks Stage Tentative Rebound as Nvidia Uncertainty Lingers”. We read the headlines and the opening line only.
As we read the prices, the opening rise was shared by all eleven names and the give-back was not. Wiwynn and Quanta both fell about 6.5% on 12 November; on 13 November Wiwynn closed +4.14% and Quanta -0.72%. Ibiden gave back 8.54 percentage points from its open. The prices alone do not show why.
Dow Jones, 13 Nov 2026
“The tentative rebound in Asia’s bruised technology stocks faded Friday afternoon as bearish sentiment overpowered the initial lift”
Three Implications
FOR THE MEMORY MAKERS SK hynix closed -3.03% and Samsung Electronics -0.96%; together about $29.5 billion of market value at the close, by our arithmetic.
FOR THE TWO-SESSION VIEW From the 11 November close to the 13 November close, nine of the eleven were lower; Ibiden was down 12.04%, by our arithmetic.
FOR THE NEXT SESSION Nvidia closed at $166.19 on 12 November; the US regular session opens at 14:30 UTC.
The framework argues that the AI supply chain is “creating geopolitical leverage that operates independently of who has the best models”.
As we read it, the 13 November session showed how closely the listed supply chain still trades with one customer’s news: all eleven names moved together at the open. The framework predates the session and does not discuss these companies’ share prices.
What Is Not Established
The prices show what the eleven stocks did between their opening and closing prices; they do not show why. The reading that uncertainty over Nvidia weighed on the session is the Dow Jones story’s. The list is our selection of Nvidia suppliers and partners, and a different list would give a different count and median. Tokyo market values were not computed.
This Week In The AI Supercycle
The Great Convergence of Capital, Power, and Geopolitics
This week’s issue: for two years the AI build-out was priced as a supply story, and last week as a credit story. This week it was priced as a permission story, and the answer arrived as a cost, not a ban.
All eleven Asian Nvidia suppliers and partners we track opened higher on 13 November, and ten closed below their opening price. SK hynix ended -3.03%, about $20.8 billion of market value, and the seven Seoul and Taipei names swung from +$78.2 billion to -$20.2 billion, by our arithmetic on Yahoo Finance data.
A note on sourcing. Opening and closing prices are exchange prices carried by Yahoo Finance (Yahoo Finance data, close 13 Nov), fetched on 13 November 2026 at 07:20 UTC, after the Taipei, Tokyo and Seoul closes; exchange rates are those Yahoo Finance showed at the same time. Nvidia’s 12 November close is Yahoo Finance data, as in our earlier report. Share counts are Taiwan Stock Exchange listed-company data dated 12 November and Korea Exchange market value read on Naver Finance on 11 November.
We read the headline and opening line of the Dow Jones story; the rest is behind a login. Percentage changes, market value changes, the list of eleven and its median are our arithmetic. We did not contact the companies.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
