Business & Economy · 40 views
Tech stock sell-off accelerates; SoftBank drops 6% as investors sour on AI-linked names
Tech stocks in Asia extended their sell-off Monday, as investors soured on global AI-linked plays after the U.S. tech-heavy Nasdaq declined more than 4.5% last week.
Summary
Tech stocks in Asia extended their sell-off Monday, as investors soured on global AI-linked plays after the U.S. tech-heavy Nasdaq declined more than 4.5% last week. Memory chip behemoths and heavyweights on South Korea's Kospi Index, Samsung Electronics and SK Hynix, ended Monday's trading session down 10.18% and 7.68%, respectively. The Kospi plunged as much as 8%, as the two companies make up over 40% of the index.
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