SK Hynix shares plunge over 11% as U.S. chip selloff sweeps through Asia
SEOUL, July 17. SK Hynix shares fell more than 11% on Thursday as a selloff in U.S. chipmakers spread into Asia, pushing semiconductor stocks across the region lower. Asian chip names tumbled broadly, according to reports.
Key takeaways
- SK Hynix shares fell more than 11% on Thursday, July 17, as a U.S. chipmaker selloff spread into Asian markets.
- The decline in U.S. chipmakers carried into Asian trading hours, pushing semiconductor stocks across the region lower.
- SK Hynix, a South Korean chipmaker, posted the day's headline drop amid broadly lower technology stocks across Asia.
- The regional selloff originated with U.S. chipmakers and pressured Asian semiconductor stocks when exchanges opened Thursday.
SEOUL, July 17. SK Hynix shares fell more than 11% on Thursday as a selloff in U.S. chipmakers spread into Asia, pushing semiconductor stocks across the region lower. Asian chip names tumbled broadly, according to reports.
Pressure flows east
The selling that hit U.S. chipmakers carried into Asian trading hours on Thursday. Semiconductor stocks across the region declined as the losses moved east, with SK Hynix absorbing a drop of more than 11%.
The South Korean chipmaker posted the headline figure in a session that saw technology stocks broadly lower across Asia.
What drove the move
The source of the selling was U.S. chipmakers. Their losses translated into pressure on Asian semiconductor stocks when regional exchanges opened Thursday.
SK Hynix fell more than 11% in the session. That number defined the day's technology rout across Asia, and it will sit on the tape for a while.
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