Asia's AI and semiconductor stocks hit by US tech selloff
Business
Asia's big AI and semiconductor stocks are feeling the heat after a sharp drop in US tech shares.
With financing costs rising and oil prices spiking, investors are worried about inflation and cutting back on risky bets.
This has led to an eight-day losing streak for US chip stocks, dragging down Asian markets too.
Nan Ya Plastics, Unimicron Technology tumble
Big names like Nan Ya Plastics and Unimicron Technology saw their shares tumble 12% and 14% last week.
There is growing concern that if hyperscalers and neocloud operators cannot keep financing the infrastructure needed to deploy them, the whole region could face bigger risks ahead.