Asian shares slide as chipmakers face heavy selling: what's driving the move
AI Market Summary
Asia equities sold off sharply, led by heavy semiconductor weakness: Korea's Kospi fell 10.5% with Samsung and SK Hynix down over 12%, while Japan's Nikkei dropped 4% and Taiwan slid 3.9%. The risk-off tone broadened across Hong Kong and mainland China, despite a surge in China's CXMT IPO. Brent crude also softened, reinforcing a defensive macro backdrop.
Impact level
● High
Affected assets
NCSINIKKEI2252USD/USDT-3.82%
AI Insight · NCSINIKKEI2252USD/USDTAI Insight
▼ Bearish
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Asian markets broadly retreated as semiconductor names came under intense pressure. South Korea's Kospi plunged 10.5% in a single session, with Samsung Electronics and SK Hynix each dropping more than 12%. In contrast, China's memory-chip maker ChangXin Memory Technologies (CXMT) surged 466% on its first day of trading on Shanghai's STAR Market, raising about $8.6 billion.
Elsewhere, Japan's Nikkei 225 fell 4% and Taiwan's Taiex slid 3.9%. Hong Kong equities and mainland China's Shanghai and Shenzhen markets also posted broad losses, while Australia's ASX bucked the regional trend to gain 0.6%.
Oil prices weakened alongside risk assets, with Brent crude down 0.8% to $85.16 a barrel.
