Tuesday was a bruising session on Wall Street, as technology stocks extended a global selloff that began in Asia a day earlier.<\/p>\n
Wedbush Securities’ Dan Ives said recent channel checks across Asia and enterprise AI demand trends showed “no cracks in the armor,” arguing that the selloff in South Korean technology stocks was more likely a pause after a near 100% rally in the Kospi this year, rather than a sign of weakening fundamentals.<\/p>\n
The Nasdaq Composite fell 2.2% on Tuesday, and the Philadelphia Semiconductor Index slid as investors dumped chipmakers and AI-linked stocks. Intel<\/a>, Advanced Micro Devices<\/a> and Qualcomm<\/a> each lost more than 5%.<\/p>\n On Wednesday, shares of South Korean chip heavyweights Samsung Electronics rose 10%, while SK Hynix added 0.98%. Both stocks plunged over 12% in the previous session.<\/p>\n Samsung Electronics and SK Hynix are major constituents of the benchmark Kospi<\/a> Index, which was up more than 3.26%.<\/p>\n Other South Korean technology names were mixed, with Samsung SDI up 4.26% and Seoul Semiconductor advancing 5.38%.<\/p>\n In Japan, chip-equipment maker Advantest<\/a> was down 0.73%, while SoftBank Group<\/a> added 1.29%. Tokyo Electron was down 4.19%.<\/p>\n Chinese technology stocks also delivered mixed results. Tencent was up 3.38%, Xiaomi added 1.5%, while Baidu was down 1.01% in premarket trading and JD.com dropped 1.65%.<\/p>\n European chip stocks were mostly steady, with some edging higher. ST Microelectronics<\/a> was up 1.70%, ASML<\/a> rose 0.77%, Infineon<\/a> was flat and Besi<\/a> dropped 0.27%. ASM International<\/a> was down 1.27%.<\/p>\n Stock Chart IconStock chart icon SoftBank and Advantest shares year-to-date.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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