Movement Alert｜Nokia Oyj Rises 3.27% in Pre-Market Trading, China Exit News Gradually Digested as Communication Equipment Sector Extends Rebound

Market Focus08-27 16:05

On August 27, Nokia Oyj rose 3.27% in pre-market trading, trading at 10.74 USD/share, with turnover of 32.06 million USD. The stock has continued to recover after previously declining 3.33% on news of the company's planned withdrawal from China.

On the news front, Nokia was previously reported to be significantly scaling back its China operations by year-end, closing its Hangzhou R&D center and cutting approximately 1,600 jobs, with offices in Beijing, Chengdu, Qingdao, and Shanghai set to be shuttered sequentially, retaining only after-sales service functions. This negative catalyst has now been largely absorbed by the market, with the stock posting consecutive sessions of recovery.

Meanwhile, the communication equipment sector extended its rebound, with Applied Optoelectronics up 5.88%, Lumentum up 3.71%, and Ciena up 2.96%, as improving industry sentiment provided additional support. Furthermore, Nokia recently retained its top position in Omdia's global mobile core network portfolio competitiveness ranking, underscoring continued fundamental strength.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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