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Asian stocks slide on chip sell-off as markets await US jobs data
On Thursday, most Asian stock markets fell, led by substantial declines in semiconductor shares due to concerns about potential oversupply linked to Big Tech's investments in AI. South Korea's Kospi suffered significantly, dropping around 5%, as major chip manufacturers like SK Hynix and Samsung saw steep losses. Despite these declines, the broader context reveals a strong year for Asian tech markets, with both the Kospi and Nikkei 225 still maintaining substantial year-to-date gains. Investors are now awaiting key employment figures from the US, which could influence future interest rate decisions.
MonitorConfidence: HighShort term horizon
Published 2 Jul 2026, 08:06 UTC2 min read
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Summary
TL;DR
- Asian stocks declined due to semiconductor stock sell-off
- South Korea's Kospi dropped around 5%
- SK Hynix lost close to 8% and Samsung Electronics over 6%
- Market sentiment impacted by fears of oversupply in AI investments
- Investors await upcoming US June employment report
Interesting facts
- The Kospi and Nikkei are up 85% and 34% respectively in 2026 despite recent declines.
- A significant decline in US chip stocks ahead of the Asian market drop indicates a broader trend.
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