Nasdaq sell-off batters Asian chip stocks as SK Hynix, Samsung, Softbank, TSMC tumble
In Taiwan, semiconductor stocks also came under heavy selling pressure, with contract chipmaker TSMC sliding 4.69%.
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China was also caught in the regional sell-off, with the tech-heavy STAR Market and the ChiNext Artificial Intelligence Index both tumbling more than 4%.
The declines followed a brutal session on Wall Street, where the Nasdaq Composite sank 5.5%, amid mounting concerns over the sustainability of the AI investment boom and returns on massive data-center spending. It closed more than 10% below its recent peak. The Philadelphia Semiconductor Index plunged 12.2%.
European stocks were broadly lower on Friday, but technology was among the least-impacted sectors, with losses of around 0.25% in morning deals. Chip stocks ASML and ASMI rose 4% and 3%, respectively.
He added that potential political opposition to U.S. data center construction may affect demand and profits for Asian AI hardware suppliers.
"If there's concern about the speed and magnitude of buildout in the U.S., then obviously that's going to put all that into question," he said. "The market's tendency is always to shoot first and ask questions later. I think that's exactly what's happening now."