Asian technology stocks extended their sell-off on Wednesday, July 29, 2026, with semiconductor names leading declines after another weak session in the U.S. markets. The downturn was driven by concerns over chip demand and earnings misses.
In South Korea, SK Hynix slid more than 15% after the chip giant missed analysts' estimates for its quarterly earnings. The company reported lower-than-expected revenue and profit, citing weak demand for memory chips used in PCs and smartphones. Samsung Electronics also fell, dropping over 3%, as the broader tech sector faced pressure.
Japan's SoftBank Group saw its shares decline by 2.5%, reflecting the negative sentiment across Asian markets. The sell-off was triggered by a sharp drop in U.S. tech stocks overnight, with the Nasdaq Composite falling 2.8% on Tuesday, July 28, 2026, as investors worried about slowing growth in the semiconductor industry.
Analysts noted that the chip sector is facing headwinds from inventory buildup and reduced consumer spending. The declines in Asian tech stocks mirror the global trend, with investors closely watching upcoming earnings reports from major chipmakers for further guidance.
