Asian tech stocks plunge after Broadcom earnings spark AI sector sell-off
By
Lee Ying Shan
Summary
Asian technology stocks fell sharply on Friday, tracking losses in U.S. semiconductor shares after Broadcom's disappointing earnings report triggered a rotation out of AI-linked stocks into defensive sectors. South Korea's chip-heavy market was hit hardest, with Samsung Electronics dropping nearly 7%, SK Hynix falling over 8%, and other tech-related names like Samsung SDI, LG Display, LG Innotek, and Seoul Semiconductor all declining significantly. Japanese tech stocks also suffered, with Tokyo Electron and Advantest both falling over 6%.
Source
bskyAsian tech stocks plunge after Broadcom earnings spark AI sector sell-offcnb.cxKey quotes
· 3 pulledAsian tech shares on Friday tracked losses in U.S. chip stocks after a downbeat earnings report from Broadcom sparked a rotation out of artificial intelligence-linked names into more defensive sectors.
Samsung Electronics fell nearly 7%, while SK Hynix dropped more than 8%.
Tokyo Electron and Advantest dropped over 6%
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