Asian Stocks Slide as AI Concerns Send Kospi Down 7.4%

Asian stocks fell sharply Tuesday as investors reassessed artificial-intelligence valuations and semiconductor competition, with South Korea’s benchmark Kospi dropping 7.4% to 5,914.35. Samsung Electronics fell 7.7% and SK Hynix declined 8.8% as memory-chip shares led the retreat. MSCI’s broadest Asia-Pacific index excluding Japan fell more than 2% to its lowest level since late July. Concerns about ChangXin Memory Technologies’ progress on a higher-density memory-chip design raised pressure on South Korea’s major chipmakers. Investors were also weighing higher oil prices, geopolitical risks and elevated interest-rate expectations, which have made expensive growth stocks more vulnerable. The decline extended across major regional markets.

Source: TokenPost