SoftBank plunged 13% on Friday, while SK Hynix slid 8%, triggering a widespread selloff in Asian technology stocks driven by rising concerns about the escalating costs of artificial intelligence infrastructure.
The Japanese conglomerate experienced losses across the region after the Nasdaq Composite dropped for a fourth straight session overnight. The tech-heavy index declined 0.46% as a 6% fall in Apple overshadowed Micron’s better-than-expected earnings.
Investors believe SoftBank Group may stay under pressure after its chip designer Arm Holdings dropped 3.2% overnight, underperforming the wider semiconductor sector even as AI-related stocks surged again.
Softbank’s downturn also impacted Asia’s semiconductor industry. South Korea’s SK Hynix fell over 8%, and Samsung Electronics dropped about 9% on Friday.
Meanwhile, tech-focused investment company SK Square fell approximately 9.43%, and LG Electronics decreased by 3.5%.
Japan’s Advantest dropped nearly 10%, while Tokyo Electron declined by 3.21%. Taiwan’s TSMC decreased by 2.09%, and Hon Hai fell 3.5%.
By CEO NA Editorial Staff
