- U.S. tech-heavy Nasdaq declined more than 4.5% last week.
- "The tech-led rout erased approximately $1.8 trillion in S&P 500 market cap," according to a UOB note.
Asian tech stocks extended their sell-off Monday, as investors sour on global AI-linked plays with the U.S. tech-heavy Nasdaq declining more than 4.5% last week.
Memory chip behemoths and heavyweights on South Korea's Kospi Index Samsung Electronics and SK Hynix fell 5% and 2%, respectively. The Kospi plunged as much as 8% as the two companies make up over 40% of the index.
Taiwan Semiconductor Manufacturing Co, or TSMC, was down 2.1%, while Hon Hai Precision, also known as Foxconn, fell 5.1%.
The share price declines follow a recent rally in Asia tech stocks that was supported by investor optimism on AI demand. Last month, Samsung Electronics and SK Hynix each crossed a
$1 trillion market valuation, while SoftBank recently became the most valuable company in Japan.
"The tech-led rout erased approximately $1.8 trillion in S&P 500 market cap," according to a UOB note on June 8.
UOB, however, said that tech and software companies will remain in focus with "the debut of a space exploration/AI/tech company on the Nasdaq on Fri (12 Jun), in what may be the largest IPO ever."
Broader Asia markets were also lower Monday, as a fresh escalation in Iran war signals that the conflict is far from over.<small>Source: CNBC</small>
Business
Asia tech stocks extend sell-off with SoftBank down over 7% as investors sour on AI-linked names
CNBC
June 08, 2026
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