At the close on 12 November, TSMC was worth about $43.3 billion less than at its 11 November close, and the Taipei-listed server makers Quanta and Wiwynn each closed 6.5% lower, by our arithmetic on Taiwan Stock Exchange closing prices. Seven of the nine Asian AI supply-chain stocks we track closed below their 11 November closes, and the median move of the nine was -2.30%; at their opening prices the median was +0.23%, by our arithmetic.
Nvidia’s last after-hours trade on 11 November was at $158.78, 8.6% below its $173.73 regular-session close, as we reported from Nasdaq’s after-hours trade log: about $360 billion of market value on the 24.1 billion shares on its latest 10-Q cover, by our arithmetic. The US regular session opens at 14:30 UTC. Taipei closed at 05:30 UTC and Tokyo and Seoul at 06:30 UTC; the Asian figures here are closing prices.
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The key insight: At the 12 November close, seven of the nine Asian AI supply-chain stocks we track were below their 11 November closes. The median move of the nine was -2.30%, against +0.23% at their opening prices, a drift of -2.53 percentage points through the session, by our arithmetic on exchange closing prices.
Taipei: TSMC closed at NT$2,340, -2.30% against 11 November (opened at NT$2,385, -0.42%). Hon Hai closed at NT$240, -0.83% against 11 November (opened at NT$239.5, -1.03%). Quanta Computer closed at NT$278.5, -6.54% against 11 November (opened at NT$294, -1.34%). Wiwynn closed at NT$1,570, -6.55% against 11 November (opened at NT$1,700, +1.19%). The Taiex closed -2.63%, on the exchange’s index data. Quanta closed at its session low of NT$278.5.
Seoul: SK hynix closed at ₩1,254,000, -1.80% against 11 November (opened at ₩1,280,000, +0.23%). Samsung Electronics closed at ₩208,000, +0.97% against 11 November (opened at ₩208,500, +1.21%). The KOSPI closed -0.61%.
Tokyo: Advantest closed at ¥29,985, -4.63% against 11 November (opened at ¥30,610, -2.64%). Tokyo Electron closed at ¥9,304, +0.35% against 11 November (opened at ¥9,385, +1.22%). SoftBank Group closed at ¥3,738, -3.04% against 11 November (opened at ¥3,969, +2.96%). The Nikkei 225 closed -0.70%.
Every change is against that stock’s 11 November close. From open to close, the largest fall was Wiwynn at -7.65%; Hon Hai was the only name to close above its opening price, at +0.21%, by our arithmetic.
Nine Asian AI supply-chain stocks on 12 November: opening price and close, each as a change against the 11 November close, from exchange prices via Yahoo Finance checked against Taiwan Stock Exchange and Naver Finance data. The basket and its median are our arithmetic.
Memory, Foundry and Servers
The two memory makers closed apart: Samsung Electronics +0.97% and SK hynix -1.80%, an average of -0.42%. TSMC, the foundry, closed -2.30%. The three Taipei server makers had a median close of -6.54%: Hon Hai -0.83%, Quanta -6.54% and Wiwynn -6.55%, by our arithmetic.
Against Nvidia’s -8.61% after-hours move, the basket’s median close of -2.30% is about 27% of the size, by our arithmetic. SK hynix had guided fourth-quarter DRAM bit shipments up by mid-20% on its third-quarter call. Reuters reported that Hon Hai’s third-quarter profit rose 34%, in a story listed at 06:28 UTC, after Taipei’s 05:30 UTC close.
The Market Value Arithmetic
On exchange share counts, the six Seoul and Taipei names were worth a combined $52.3 billion less at the close than at the 11 November close, by our arithmetic. By name: TSMC -$43.3 billion; SK hynix -$12.6 billion; Quanta Computer -$2.4 billion; Wiwynn -$1.9 billion; Hon Hai -$854 million; Samsung Electronics +$8.8 billion. Local-currency amounts are converted at the exchange rates Yahoo Finance showed at 06:53 UTC.
Share counts are the issued common shares in the Taiwan Stock Exchange’s listed-company data dated 11 November 2026, and the listed common shares implied by Korea Exchange market value on Naver Finance. Samsung’s figure covers common shares only. We did not compute Tokyo market values.
How the Session Was Read
In our report at the open, the median of the five Tokyo and Seoul names was +1.21% at 00:20 UTC, and the median of all nine was -0.63% at the 01:30 UTC check after Taipei opened and +0.62% on quotes timed 02:26 to 02:30 UTC. It closed at -2.30%.
A Dow Jones Newswires market report at 02:23 UTC, with Asian markets still trading, quoted Pepperstone’s head of research, Chris Weston: “Despite how interconnected the AI ecosystem has become, price action suggests investors are treating this primarily as an idiosyncratic risk to Nvidia”. A Wall Street Journal markets story listed on Google News at 06:46 UTC was headlined “Nvidia’s Leadership Crisis Weighs on Asian Markets”.
As we read it, the close splits the basket by role: the two memory makers averaged -0.42%, the foundry -2.30% and the three Taipei server makers a median of -6.54%; the prices do not show why they moved.
FourWeekMBA, Nvidia after-hours report, 12 Nov 2026
“Nvidia’s last after-hours trades on 11 November were at $158.78, at 7:59:59 p.m. Eastern, according to Nasdaq’s after-hours trade log”
Three Implications
FOR THE LARGEST NAME TSMC was worth about $43.3 billion less at the close than at its 11 November close, by our arithmetic on exchange share counts.
FOR THE SERVER MAKERS Quanta and Wiwynn each closed 6.5% lower; Hon Hai closed -0.83%, and Reuters reported its third-quarter results after the Taipei close.
FOR THE COMPARISON WITH NVIDIA The basket median close of -2.30% is about 27% of Nvidia’s -8.61% after-hours move, by our arithmetic; Nvidia’s US regular session opens at 14:30 UTC.
What Is Not Established
The prices show what the nine stocks did between their opening and closing prices; they do not show why. Reuters’ report on Hon Hai’s results was listed after the Taipei close, so Hon Hai’s closing price predates it. Nvidia had not traded in a US regular session since the report when Asia closed. The basket is our selection of nine AI supply-chain names, and a different basket would give a different median.
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At the 12 November close, seven of the nine Asian AI supply-chain stocks we track were below their 11 November closes, with a median move of -2.30% against +0.23% at the open and Nvidia’s -8.61% after-hours move, by our arithmetic on exchange closing prices.
A note on sourcing. Closing and opening prices are exchange prices carried by Yahoo Finance, fetched on 12 November 2026 at 06:53 UTC after the Taipei, Tokyo and Seoul closes; we checked the Taipei names against the Taiwan Stock Exchange’s daily trading data and the Seoul names against Korea Exchange data on Naver Finance. Nvidia’s after-hours price is from Nasdaq’s after-hours trade log, as in our earlier report.
Share counts are Taiwan Stock Exchange listed-company data and Korea Exchange market value read on Naver Finance. Percentage changes, market value changes, the basket 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.
