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Asia tech stocks slide as AI rally shows cracks in chip‑driven surge
A sharp fall in Asian tech shares highlights vulnerability in the AI‑chip led rally amid valuation concerns and monetary‑policy uncertainty.
Asia’s technology shares suffered their largest drop since April, with the MSCI Asia pacific tech index falling ~4.2% after a rapid AI‑ and semiconductor‑led rally flagged signs of overvaluation.
South Korea’s Kospi plunged ~6.2% and Japan’s Nikkei ~4.7% on the weakness in chip names such as SK Hynix Inc. and Taiwan Semiconductor Manufacturing Co.. Investors cited narrowing breadth of the rally and delayed rate cuts from the Federal Reserve as pressure points.