Asian shares fall as chip stocks slide; Kospi drops 2.4%
Why it matters: Investors are testing whether the AI-driven stock rally can survive earnings season and fallout from the Iran war's energy shock.
Asian stocks turned lower Monday as chip and technology shares lost steam, pulling MSCI’s Asia Pacific equities gauge down 0.4% and South Korea’s Kospi 2.4% lower. A regional semiconductor index fell 1.6%, with SK Hynix down more than 3% ahead of a planned $29 billion ADR listing and Samsung Electronics off 0.1% after a report it may raise some chip prices. The dollar strengthened against most major peers, while the 10-year Treasury yield slipped two basis points to 4.46%. Hong Kong’s Hang Seng rose 1%, but Japan, Australia and mainland China were weaker. Investors are shifting focus to upcoming tech earnings for evidence that heavy AI spending can produce profits.