Shares of SK Hynix plunge 10% in Seoul as semiconductor selloff deepens
SK Hynix fell more than 10% and Samsung Electronics over 8% as weak U.S. chip trading hit AI-linked shares across Asia.
- On Tuesday, South Korean semiconductor stocks slumped as investors dumped AI-related bets, with Samsung Electronics falling 9.5% and SK Hynix dropping 10.9%, extending a broader rout in Asian chipmakers following a weak session on Wall Street.
- Mounting concerns over AI infrastructure financing triggered the decline, fueled by reports that Nvidia might provide a roughly $250 billion financial backstop for an OpenAI project, prompting investors to question the sustainability of the AI-driven rally.
- Japan's semiconductor sector also traded lower, with Kioxia plunging more than 15% and Tokyo Electron dropping more than 9%, while the benchmark KOSPI index traded down 7.3%, reflecting broad regional contagion.
- Reports of China's progress in developing homegrown deep ultraviolet lithography tools and the growing popularity of low-cost Chinese open-source AI models like Kimi further unsettled investors regarding future chip demand.
- AMD and Teradyne dropped 5% and 4% respectively, while Micron Technology shed about 2%, reflecting sector-wide sensitivity to shifts in spending expectations by hyperscalers for advanced semiconductor chips.
20 Articles
20 Articles
On the 28th, as Samsung Electronics and SK Hynix, the "two top" of the Korean stock market, showed a sharp decline in the fallout from the sharp drop in U.S. semiconductor stocks, semiconductor stocks also plunged across the board in major Asian markets, including Japan and Taiwan. Japan's Nikkei 225 index fell by more than 4% at one point during the day compared to the previous trading day, dropping below the 62,000 mark for the first time sinc…
(Seoul = Yonhap News) Reporter Jung Joo-ho = As skepticism grows regarding the sustainability of artificial intelligence (AI) infrastructure investment, on the 28th, Asia... including Samsung Electronics and SK Hynix
Double-digit losses at SK Hynix and Samsung burden the markets. Investors are wondering about the rapid increase in recent months, how far the correction can go.
The Economic Times
Times of IndiaSouth Korea's KOSPI drops 7% as global chipmaker selloff deepens
South Korean stocks experienced a significant decline on Tuesday. This downturn was driven by a global selloff in chipmakers and rising competition from China. SK Hynix shares dropped sharply, impacting the broader market significantly. Samsung Electronics also saw a considerable decrease in its stock value. Concerns over China's growing capacity and technological advancements further dampened investor sentiment.
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