SoftBank · Wall Street · South Korea · Samsung · CNBC Technology
SK Hynix, SoftBank shares plunge as tech stocks in Asia track Wall Street chip sell-off
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Asian technology stocks fell Tuesday as a sell-off in U.S. semiconductor shares spilled into regional markets, with worries over artificial intelligence financing and intensifying competition denting sentiment.
Key facts
- Lasertec fell 4.76%, Disco lost 4.83% and Renesas Electronics shed 5.89%
- Shares of South Korean chip giant SK Hynix, a leading supplier of high-bandwidth memory chips used in artificial intelligence applications, plunged more than 8%, while rival Samsung Electronics shed
- Tokyo Electron, a major supplier of chipmaking equipment, dropped 6.6%, while Advantest, which makes semiconductor testing equipment, declined 5.38%
- The declines followed a weak session for technology stocks on Wall Street, where the Nasdaq Composite dropped 0.44% on Monday
Summary
Shares of South Korean chip giant SK Hynix, a leading supplier of high-bandwidth memory chips used in artificial intelligence applications, plunged more than 8%, while rival Samsung Electronics shed 7.9%, both hit their lowest intra-day levels since August. In Japan, shares of tech-focused investment giant SoftBank Group sank 8.03%. Tokyo Electron, a major supplier of chipmaking equipment, dropped 6.6%, while Advantest, which makes semiconductor testing equipment, declined 5.38%. The declines followed a weak session for technology stocks on Wall Street, where the Nasdaq Composite dropped 0.44% on Monday.