Asian Chip Stocks Tumble as Kospi Slumps 7.6% on AI Valuation Fears
Updated
Updated · Bloomberg · Jul 16
Asian Chip Stocks Tumble as Kospi Slumps 7.6% on AI Valuation Fears
3 articles · Updated · Bloomberg · Jul 16
Summary
South Korea’s Kospi sank as much as 7.6% on Thursday, with SK Hynix and Samsung Electronics leading a fresh rout in Asian semiconductor shares.
Investor skepticism over whether the AI-driven rally can justify lofty valuations drove the selloff, extending worries already stirred by a sharp US chipmaker retreat.
Japan’s Nikkei 225 fell 3%, compounding the regional damage and pulling MSCI’s Asia Pacific equities gauge down 1.4%, snapping a two-day winning streak.
Oil rose even as equities weakened, underscoring a broader risk-off tone spreading beyond chipmakers and into regional markets.