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Shares in Asian chip firms plunge further as AI sell-off continues

Summary

Drop comes after South Korean company SK Hynix’s results undershot investors’ expectations. Seoul’s Kospi index slid by as much as 12.6% on Wednesday, following a near 11% slump the previous day.

SourceThe Guardian AIAuthor: Joanna Partridge
Shares in Asian chip firms plunge further as AI sell-off continues
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Drop comes after South Korean company SK Hynix’s results undershot investors’ expectations

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Shares in companies linked to AI have plunged further after disappointing results from the South Korean chipmaker SK Hynix, sending the country’s stock market tumbling for the second day in a row.

Seoul’s Kospi index, which is dominated by semiconductor manufacturers, slid by as much as 12.6% at one point on Wednesday, following on from a near 11% slump the previous day, reaching its lowest level since early April.

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Key points and analysis

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Key points

  • SK Hynix's disappointing results triggered further sell-off in AI stocks.
  • Kospi index fell up to 12.6% on Wednesday, hitting lowest since early April.
  • Asian chip shares dropped for second consecutive day.

Highlights and analysis are generated automatically and may contain errors. Check the original source.

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