Asian stock markets fall sharply
Quick Look
- Several technology and AI stocks fell sharply in Asian markets on worries about another increase in the US key interest rate.
- SK Hynix and Samsung Electronics lead the decline with falls of 11.1 and 9.2 percent respectively, while the Kospi retreats 7.7 percent.
- The Tokyo Stock Exchange and Chinese stock exchanges also show declines.
AI-generated summary
Why It Matters
Concerns about another hike in US key interest rates are spreading to Asian markets, triggering selling pressure in technology and AI stocks.
Several technology and AI stocks plunged on the stock markets around Asia on fears of another increase in the US key interest rate.
The Tokyo Stock Exchange is also backing down
Examples include memory giants SK Hynix and Samsung Electronics, which are down 11.1 and 9.2 percent, respectively. Kospi as a whole retreats by 7.7 percent.
It's not particularly cheerful on the Tokyo stock exchange either. The Nikkei 225 retreats 4.8 percent and the Topix loses 2.5 percent. The investment company Softbank - with several technology companies in the portfolio - falls 9.4 percent.
That's how it goes for China
Even in China, the stock markets are backing down - but more moderately in this context. The Shenzhen stock exchange loses 2.4 percent and Shanghai loses 1.7 percent. At the same time, the Hong Kong-based Hang Seng stands at minus 1.0 percent.
What to Watch
AI outlook — possibilities, not facts
Continued volatility in Asian technology markets if US interest rates are raised again
Possible · Within days
Open Questions
- Will the US Federal Reserve actually raise interest rates again?
- How long will the decline in Asian tech stocks last?
- What other sectors can be affected by interest rates?
