SK Hynix falls amid Asia tech rout, tracking U.S. semiconductor losses
SK Hynix Inc. at the company’s office in Seongnam, South Korea, on Tuesday, June 30, 2026. sign.
Seong Joon Cho | Bloomberg | Getty Images
Asian semiconductor stocks fell on Thursday as a sell-off at U.S. chipmakers spread across the region and SK Hynix continues to see big swings since its U.S. listing last week.
Shares of SK Hynix fell over 9% in Seoul, reversing an 8% rise in the previous session. The stock posted its steepest one-day drop on Monday as investors locked in profits on growing concerns about artificial intelligence spending.
Domestic rival Samsung Electronics fell more than 7%. Seoul Semiconductor fell more than 5%, LG Innotek lost nearly 1% and Samsung SDI lost more than 2%.
Weakness spread throughout the region. In Japan, AI-related equipment makers Advantest fell more than 6%. SoftBank Group fell by almost 7%, Tokyo Electron lost more than 5 percent Renesas Electronics fell 4 percent.
The losses follow an overnight selloff in U.S. semiconductor stocks. Micron Technology fell 8 percent Intel lost over 4 percent Lam Research And Advanced Micro Devices each fell about 3%.
“Today’s decline is largely a continuation of the overnight session in the US,” said Rolf Bulk, Head of Semiconductor and Infrastructure Equity Research at Futurum Group.
one pointed out proposed moratorium It reported on data center construction in New York and that CoreWeave is exploring protection against future declines in memory prices, which are marginally negative signals.
New York Gov. Kathy Hochul on Tuesday ordered a temporary halt to new large-scale data center projects while the state develops stricter standards governing their energy, water and environmental impacts.
The declines also come despite strong results from ASML. The Dutch chip equipment maker raised its full-year sales forecast for the second time this year, forecasting revenue to rise from 43 billion euros to 45 billion euros, above analysts’ expectations, while outlining plans to further increase production of its ultraviolet lithography machines.
XFUNDs trader Louis Kondratev noted that the recent pullback reflects how crowded the semiconductor trade has become after a prolonged AI-driven rally.
“Semiconductors alone now account for roughly 20% of the S&P 500, and that is incredibly difficult to sustain,” he said. He noted that during the dot-com bubble in 2000, semiconductors accounted for just over 8% of the index, and historically the average has been between 2% and 5%.
While earnings momentum remains strong, he also warned that the earnings pace may become difficult to sustain as investors reassess high valuations.
“Earnings momentum is very strong, but it is mostly concentrated in semiconductors, and that momentum may begin to slow as valuations find their place,” he said.
