Asian tech stocks drop with SK Hynix plunging 10% after Wall Street AI names fall

SK Hynix plunged 10% in Thursday trading as Asian tech stocks tracked a sharp selloff in U.S. AI names, extending global volatility across the sector. SoftBank Group dropped 4.36% in Japan during the same session.

The decline mirrors weakness in Wall Street tech stocks during overnight trading, spreading contagion across major Asian technology plays. The move underscores the heightened correlation risk facing traders positioned in AI-linked equities on both sides of the Pacific.

J.P. Morgan weighed in amid the turbulence, stating the tech selloff has not derailed the broader AI investment cycle. The firm maintained an optimistic outlook on the sector despite the sharp intraday moves.

The synchronized drop across geographies highlights how quickly sentiment shifts in U.S. mega-cap AI stocks now ripple through Asian semiconductor and tech proxies. SK Hynix, a key supplier of high-bandwidth memory for AI chips, remains particularly sensitive to any cooling in AI infrastructure spending expectations.