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SK Hynix falls amid Asia tech rout, tracking U.S. semiconductor losses
CNBC • • business
Key Points:
- Asian semiconductor stocks fell sharply Thursday, led by SK Hynix's 11.5% drop in Seoul, reversing a recent rally amid profit-taking and concerns over AI spending.
- Major regional players including Samsung Electronics, Seoul Semiconductor, and Tokyo Electron also saw significant declines, reflecting a broader sell-off following steep losses in U.S. chipmakers like Micron and Intel.
- The downturn was influenced by a proposed moratorium on data-center construction in New York and reports of hedging against future memory price declines, though analysts emphasize that AI-driven demand for memory chips remains strong.
- Despite the sell-off, chip-equipment maker ASML raised its full-year sales forecast, signaling continued robust demand for advanced semiconductor manufacturing tools.
- Market experts note that the semiconductor sector's heavy weighting in indices like the S&P 500 has made the recent rally difficult to sustain, with valuations being reassessed amid ongoing profit-taking.
