Asian tech stocks tumble as AI-linked sell-off spreads from Wall Street
By
Justina Lee
28d ago· 2 min readenNews
Summary
Asian tech stocks experienced a significant sell-off on Monday, tracking overnight losses in U.S. tech names led by Broadcom's decline. Major companies including Samsung Electronics, SK Hynix, TSMC, Foxconn, and SoftBank Group saw substantial drops, with SoftBank plunging over 7%. The sell-off reflects growing investor skepticism toward AI-linked stocks, following a 4.5% decline in the U.S. tech-heavy Nasdaq last week.
Source
bskyAsian tech stocks tumble as AI-linked sell-off spreads from Wall Streetcnb.cxKey quotes
· 3 pulledAsian tech stocks extended their sell-off Monday, as investors sour on global AI-linked plays with the U.S. tech-heavy Nasdaq declining more than 4.5% last week.
Memory chip behemoths and heavyweights on South Korea's Kospi Index Samsung Electronics and SK Hynix fell 5% and 2%, respectively.
Japanese tech investor Softbank Group plunged 7.5%, while Tokyo Electron and Advantest were down 6.7%
Asian tech stocks tracked overnight losses in U.S. tech names led by a sell-off in Broadcom.
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