Nikkei drops 6.3% as Asian chip stocks tumble
Japan's Nikkei fell 6.32%, falling below 60,000 for a fifth straight day of losses. Chip names including SK Hynix, Samsung, SoftBank and TSMC dropped. Seoul stocks opened sharply lower and trading was halted by a circuit breaker. South Korea's finance minister promised timely action.
Why it matters
Chips from Asia power AI, so the drop affects tech supply chains.
Background
Asian chipmakers rose with the AI boom.
The story so far
- Japanese budget chain Saizeriya raises menu prices
- Chip maker Kioxia warns price spikes leveling
- Japan's Nikkei falls as chip stocks slump
- Nikkei drops 6.3% as Asian chip stocks tumble
- Asian chip stocks tumble with Nasdaq
- Asian tech stocks rebound as oil falls
Sources
- CNBC ↗Nov 5, 8:11 PM ET
- Yonhap (Korean) ↗Nov 5, 7:31 PM ET
- Yonhap ↗Nov 5, 7:39 PM ET
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.