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01:11
South Korea
VideoAsia

Asian tech stocks plunge as US midterm results fuel fears of an AI slowdown

Benchmark share price indices in South Korea and Taiwan plummeted on Friday by over 8 per cent amid massive regional sell-offs in AI and tech stocks.

Trista Kurniawan

Asian tech stocks experienced steep declines early Friday on fears that Democrats’ gains in the US midterms would ramp up regulatory scrutiny of AI. Key tech stocks felt the hit, including Korean AI chipmakers Samsung Electronics and SK Hynix. Markets across the region showed signs of stabilising later in the day after interventions by regional financial authorities.

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