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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.
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33 Articles
33 Articles
In South Korea, SK Hynix collapsed 14.65% and Samsung Electronics fell more than 13% at closing.
·Las Condes, Chile
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Asian stock markets are in turmoil: Samsung and SK Hynix fell more than ten percent. Nvidia is no longer the world's most valuable company either.
·Helsinki, Finland
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Total News Sources33
Leaning Left2Leaning Right8Center10Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
C 50%
R 40%
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