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2026-10-13 10:24:51 Asian tech stocks declined on Tuesday (13th) as an overnight selloff in US semiconductor stocks on Monday (12th) spread to regional markets. Investors were concerned about artificial intelligence financing and intensifying competition, hurting investment sentiment. S Korean chip giant SK Hynix (000660.KS) plunged more than 8%. The company is a major supplier of high-bandwidth memory chips used in artificial intelligence applications. Rival Samsung Electronics (005930.KS) fell 6.7%, with both stocks hitting their lowest levels since August. In Japan, SoftBank Group (9984.JP), which focuses on tech investments, slumped 8.8%. The group's significant investments in the global artificial intelligence industry weighed on Japanese semiconductor and electronics shares broadly. Chipmaking equipment supplier Tokyo Electron (8035.JP) dropped 6.75%, while semiconductor testing equipment maker Advantest (6857.JP) declined 5.65%. Other Japanese tech stocks also came under pressure, with Lasertec (6920.JP) down 4.94%, Disco (6146.JP) falling 4.69%, and Renesas Electronics (6723.JP) losing 5.64%. US tech stocks were weak on Monday, with the Nasdaq Composite falling 0.44%, also dragging down Asian markets. US memory chip maker Micron Technology, Inc. (MU.US) dropped 3.9% as investors assessed the impact of intensifying competition from CXMT (688825.SH), which announced progress in a new chip architecture. Intel Corporation (INTC.US) CEO Lip-Bu Tan and Broadcom Inc. (AVGO.US) executives warned that access to capital could become a major constraint on the artificial intelligence boom, even as demand for computing infrastructure continues to outstrip supply. Investors are also focusing on a heavy slate of corporate earnings and US inflation data this week for fresh clues on the interest rate outlook.(da/)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |