Asian markets waver after global tech selloff

June 24, 2026 (MLN): Asian markets traded mixed on Wednesday as technology shares attempted to stabilize following a sharp global selloff that rattled semiconductor and artificial intelligence-related stocks in the previous session.

South Korea’s technology sector showed volatile price action, with chip giant Samsung Electronics rebounding more than 4% after surging as much as 10% earlier in the day. In contrast, memory-chip producer SK Hynix fell around 3%, reversing earlier gains.

Both companies had suffered losses exceeding 12% during Tuesday’s market rout, according to CNBC.

The moves weighed on South Korea’s benchmark KOSPI, which erased strong early gains. After climbing more than 3% at the open, the index later slipped into negative territory, reflecting continued investor caution toward technology stocks.

Elsewhere in South Korea, performance was mixed. Battery manufacturer Samsung SDI posted modest gains, while Seoul Semiconductor also advanced.

Japanese technology stocks likewise delivered a mixed performance. Semiconductor testing equipment maker Advantest traded largely unchanged, while investment conglomerate SoftBank Group edged higher. However, chip-equipment producer Tokyo Electron declined more than 3%.

In China, major technology names showed divergent trends. Shares of Tencent and Baidu advanced, while Xiaomi and JD.com moved lower.

Market analysts suggested the recent weakness in Asian technology shares may reflect profit-taking rather than deteriorating industry fundamentals.

According to Wedbush Securities analyst Dan Ives, supply-chain checks across Asia and continued enterprise demand for AI-related products indicate that the long-term growth story remains intact.

He noted that the pullback in South Korean technology stocks appears more consistent with a pause following the KOSPI’s near-100% rally this year than with any meaningful slowdown in demand.

The cautious recovery in Asia came after another weak session on Wall Street, where technology shares remained under pressure. The Nasdaq Composite fell 2.2%, while the Philadelphia Semiconductor Index dropped sharply as investors reduced exposure to chipmakers and AI-linked companies.

Among the biggest decliners in the U.S. market were memory-chip producer Micron Technology and storage-device manufacturer SanDisk, both of which tumbled about 13%.

Semiconductor firms Intel, Advanced Micro Devices, and Qualcomm each recorded losses of more than 5%, extending the broader weakness across the global technology sector.

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