Asian chip stocks slide as SK Hynix, Samsung and SoftBank drop
What's new: SK Hynix fell more than 8% and Samsung 7.9% after U.S. chip losses and fresh concern over China's CXMT.
Asian technology shares fell Tuesday after a Wall Street chip sell-off spilled into regional markets and renewed doubts about the durability of the AI trade. In South Korea, SK Hynix dropped more than 8% and Samsung Electronics fell 7.9%, both touching their lowest intraday levels since August. In Japan, SoftBank Group sank 8.03%, while Tokyo Electron, Advantest, Lasertec, Disco and Renesas Electronics also posted steep losses. The retreat followed a 3.9% fall in Micron Technology and a broader drop in U.S. semiconductor stocks. Investors also reacted to progress reported by China's ChangXin Memory Technologies, or CXMT, on a denser memory chip design, though analysts said the immediate threat to high-bandwidth memory leaders remains limited.