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Global semiconductor stocks sell-off over AI boom worries pulls Asian shares lower

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Global semiconductor stocks sell-off over AI boom worries pulls Asian shares lower

Business News Tech AI Global semiconductor stocks sell-off over AI boom worries pulls Asian shares lower

Global semiconductor stocks sell-off over AI boom worries pulls Asian shares lower

Global equities showed mixed performance, with Asian markets notably declining due to major setbacks in semiconductor stocks. A steep fall in South Korea's Kospi index raised alarms for investors worried about competition from the Chinese behemoth CXMT. Japan faced a downturn as key players like Tokyo Electron and SoftBank struggled.

Global shares were mixed Tuesday but a sell-off of chip shares pulled Asian shares mostly lower, with South Korea's benchmark Kospi index sinking more than 5%. U.S. futures edged higher, and oil prices fell even though escalating tensions in the Middle East continued. In early European trading, Britain's FTSE 100 rose 0.8% to 10,745.66. France's CAC 40 was up 0.3% to 7,859.37, while Germany's DAX climbed 0.6% to 25,434.10. Shares of Dutch leading chip machine maker ASML in Amsterdam fell 1.1%.

35 led by semiconductor-related stocks, recovering some of its losses after it fell more than 7% intraday to below the 6,000 mark. It reached an all-time high in June after crossing 9,000, supercharged by the global artificial intelligence boom. 1%. Investors' unease over the AI boom has clouded prospects. Both companies' stocks fell following reports that the latest advances made by China's memory chipmaker CXMT could increasingly challenge Samsung Electronics, SK Hynix and Micron Technology, the world's biggest memory chipmakers . 52. 2%. 5%. 22. 86. 90. , also down 2%.



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