HONG KONG, Oct 14 — Asian stocks mostly fell today as investors struggled to claw back the previous day’s steep tech losses following disappointing comments from Dutch giant ASML, with focus turning to US inflation data.
Tech firms took a hammering yesterday amid concerns about China’s progress in developing artificial intelligence chips and following comments by Broadcom’s boss likening the AI buying frenzy to gambling.
The ructions felt in Seoul and Tokyo — which have big tech weightings — saw giants SK hynix and Advantest suffer huge losses, pushing them back towards levels last seen following their summer rout.
All three markets bounced early today as the same firms provided much-needed support, but were unable to maintain momentum and Tokyo and Seoul ended lower, with traders disappointed by earnings from chip-equipment maker ASML. Taipei closed higher.
