Asia chip stocks slide as Kioxia plunges 16% and Philly semiconductor gauge retreats 19% from June peak
AI Market Summary
A sharp rotation out of technology is driving steep losses in Asia's chip complex, with Nikkei and Taiex posting their worst drops in over a year and the Philadelphia Semiconductor Index down ~19% from its June peak. Despite strong results, key bellwethers sold off, highlighting valuation and AI capex-return skepticism. Nasdaq 100 futures are weaker, reinforcing near-term risk-off conditions for semis and high-duration growth.
Impact level
● High
Affected assets
NCSKNVDA2USD/USDT+0.85%
AI Insight · NCSKNVDA2USD/USDTAI Insight
▼ Bearish
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Asia-Pacific chip shares sold off sharply, with Taiwan Semiconductor Manufacturing Co. falling even after reporting earnings that beat estimates and Japan’s Kioxia Holdings Corp. sliding 16%. The Philadelphia Semiconductor Index is down about 19% from a June peak, while Japan’s Nikkei 225 and Taiwan’s Taiex posted their biggest single-day drops in more than a year. Nasdaq 100 futures fell 1.6%, and Brent crude slipped 0.5% even as it remained up 10% for the week. Investors have been questioning whether AI-related capital spending will deliver returns, adding pressure to tech valuations.
