Asian Stocks Slide as Tech Selloff Intensifies
Asian stock markets declined on Friday, mirroring losses on Wall Street as technology and artificial intelligence shares came under renewed selling pressure following disappointing earnings from major US tech companies. In after-hours trading, Amazon plunged around 7% after revealing a sharp increase in capital expenditures, while Intel sank 23% after providing a weaker-than-expected quarterly outlook and pointing to a slowdown in the PC market. Concerns over AI-related investments have also weighed on Asian markets, triggering significant losses among major South Korean and Japanese technology companies, including Samsung Electronics (-4%), SK Hynix (-7%), Kioxia Holdings (-9%), Advantest (-8%) and SoftBank Group (-5%). South Korea’s Kospi Index dropped more than 4%, while Japan’s Nikkei 225 declined over 2%.
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Asian stock markets declined on Friday, mirroring losses on Wall Street as technology and artificial intelligence shares came under renewed selling pressure following disappointing earnings from major US tech companies. In after-hours trading, Amazon plunged around 7% after revealing a sharp increase in capital expenditures, while Intel sank 23% after providing a weaker-than-expected quarterly outlook and pointing to a slowdown in the PC market.
Concerns over AI-related investments have also weighed on Asian markets, triggering significant losses among major South Korean and Japanese technology companies, including Samsung Electronics (-4%), SK Hynix (-7%), Kioxia Holdings (-9%), Advantest (-8%) and SoftBank Group (-5%). South Korea’s Kospi Index dropped more than 4%, while Japan’s Nikkei 225 declined over 2%.