Asia markets slide on tech sell-off

June 08, 2026 (MLN): Asian markets declined on Monday, with technology stocks leading losses across the region as investors pulled back from AI-linked plays following a sharp sell-off in U.S. tech shares.

In South Korea, the Kospi Index fell sharply as Samsung Electronics and SK Hynix dropped 5% and 2%, respectively. The two companies account for more than 40% of the benchmark index.

In Taiwan, TSMC declined 2.1%, while Foxconn fell 5.1%, according to CNBC.

Japanese technology stocks also came under pressure, with SoftBank Group plunging 7.5%, while Tokyo Electron and Advantest lost 6.7% and 5%, respectively.

The declines follow a recent rally in Asian technology shares driven by optimism surrounding artificial intelligence demand. Last month, Samsung Electronics and SK Hynix each surpassed a $1 trillion market valuation, while SoftBank became Japan’s most valuable company.

The latest sell-off was triggered after U.S. chipmaker Broadcom reported fiscal second-quarter revenue that missed market estimates, sending its shares lower and weighing on the broader technology sector.

The VanEck Semiconductor ETF (SMH) fell more than 9% on Friday, while Arm Holdings and Micron Technology each dropped more than 13%.

According to a June 8 note from UOB, the technology-led rout erased approximately $1.8 trillion in S&P 500 market capitalization.

Broader Asian markets were also lower on Monday as renewed escalation in the Iran conflict dampened investor sentiment.

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