Samsung Rebounds 4% as Asia Tech Turns Mixed After 2.2% Nasdaq Drop
Updated
Updated · CNBC · Jun 24
Samsung Rebounds 4% as Asia Tech Turns Mixed After 2.2% Nasdaq Drop
3 articles · Updated · CNBC · Jun 24
Summary
Samsung Electronics rose more than 4% on Wednesday, though a rebound across Asian tech faded and South Korea’s Kospi swung from a gain above 3% to a 1% loss.
A 2.2% Nasdaq drop and a slide in the Philadelphia Semiconductor Index drove the caution after investors dumped chipmakers and AI-linked stocks in the previous U.S. session.
SK Hynix fell 3%, surrendering early gains, while Japan and China also split—Tokyo Electron lost 3.36%, Tencent added 1.16% and JD.com dropped 2.35%.
Dan Ives of Wedbush said Asia channel checks and enterprise AI demand still show “no cracks in the armor,” framing the South Korean selloff as a pause after the Kospi’s near 100% rally this year.