From BigGo Finance · BigGo Finance · · 1m 10s
Asian Tech Rout Deepens as CXMT Chip Advance Hammers Samsung, SK Hynix
CXMT's 4F² DRAM design sparks semiconductor selloff, dropping KOSPI 7.2% and Samsung 8%.
In brief
CXMT's 4F² DRAM design sparks semiconductor selloff, dropping KOSPI 7.2% and Samsung 8%. China's CXMT advancing a higher-density 4F² DRAM design intensified competition fears, causing South Korea's KOSPI to drop 7.2% and Samsung Electronics to fall 8%. Originally reported by BigGo Finance.
Asian equities tumble
Asian stocks plunged 7.2% on Tuesday as semiconductor selloff spread from Wall Street.
KOSPI crashes 7.2%
KOSPI plummeted 7.2% to 5,923.37, its lowest level since July.
Nikkei 225 drops 2.7%
Japan's Nikkei 225 fell 2.7% to 67,200.5 after a long weekend.
Semiconductor selloff intensifies
CXMT's 4F² DRAM design advancement raises competitive pressure on established players.
SK Hynix and Samsung fall
SK Hynix dropped 8.9% while Samsung Electronics fell 8% in early trading.
Philadelphia Semiconductor Index sinks
Philadelphia Semiconductor Index sank 2.7% to its lowest since mid-September.
Broadcom CEO warns
Broadcom CEO Hock Tan warned some AI investors don't fully understand what they're betting on.
Ray Dalio calls AI bubble
Ray Dalio described AI as a 'classic bubble' nearing a bursting point.
Brent crude slips
Brent crude dropped 1.1% to $105.50 a barrel amid Middle East tensions.
At a glance
China's CXMT advancing a higher-density 4F² DRAM design intensified competition fears, causing South Korea's KOSPI to drop 7.2% and Samsung Electronics to fall 8%.
