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CNBC
Asian tech stocks drop with SK Hynix plunging 10% after Wall Street AI names fall
Asian technology stocks faced a downturn on Thursday, primarily driven by SK Hynix's 10% drop following similar trends in U.S. tech shares. Despite this volatile market and investor concerns regarding the sustainability of aggressive AI spending, analysts from J.P. Morgan maintain a generally positive outlook for the technology sector. They believe ongoing investments in AI and software will continue to drive growth, evidenced by a rising global purchasing managers' index for tech equipment.
MonitorConfidence: MediumShort term horizon
Published 6 Aug 2026, 05:55 UTC1 min read
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Summary
TL;DR
- SK Hynix plunged by 10% amidst broader market volatility.
- SoftBank Group dropped 4.36%, marking a volatile week for Asian tech.
- J.P. Morgan reported no fundamental indicators of weakness in tech investments.
- July's global tech equipment purchasing managers' index output increased significantly.
- S&P Global indicates rising demand for technology and IT services.
Interesting facts
- Despite the sell-off, J.P. Morgan sees sustained investment in AI by hyperscalers.
- The global tech sector is reportedly experiencing its fastest growth in ten months.