Asian chip stocks sink as Samsung, SK Hynix slide more than 7%
Why it matters: Rising US yields, pricier oil and the Iran war are shaking confidence in AI-linked tech trades.
Asian stocks fell sharply Wednesday as a semiconductor rout spread from Wall Street, dragging down major chip names and broader regional indexes. Samsung Electronics and SK Hynix each dropped more than 7% in South Korea, while Kioxia fell 9% in Tokyo. MSCI’s Asia Pacific benchmark slid 2%, with South Korean shares down 5.5% and Japan’s Topix off 2.7%. The selloff followed a 5% drop in the Philadelphia Semiconductor Index and came as the 10-year US Treasury yield hovered near 4.69%. Investors also faced higher oil prices, with Brent crude above $91 a barrel as the US-Iran war stretched toward six months, adding to worries that inflation and borrowing costs could stay high and pressure spending on AI infrastructure.