🚨 BREAKING: Asian stocks closed out a brutal October in the red as an AI-led selloff swept the region again on Friday.
Your heatmap tells the story. South Korea's SK Hynix fell about 7%, Samsung Electronics 3%, Taiwan's Delta Electronics 9%, Japan's Advantest nearly 6%, and TSMC 1.9%. The KOSPI closed down 3.5% at 5,730.74 after triggering a sidecar earlier in the session, leaving it down about 16% for October.
The trigger came from Wall Street. Alphabet's heavy cash burn sent its shares down around 10% to 12%, wiping out nearly $400 billion in market value, while Amazon's results and a roughly 25% plunge in Intel added to fears that AI spending is outrunning returns.
The month has been rough across the region. As of October 22, the Nikkei was down more than 7% for the month and Jakarta's index nearly 11%. In China, the AI-heavy STAR 50 index is down about 40% in under four months, with the broader market having lost around $3.5 trillion since its May peak.
The selling has been concentrated in the crowded AI hardware trade, Korean memory and Taiwanese chips above all, rather than across all of Asia. Indonesia's investors have been rotating into bonds, and Thailand has benefited from capital leaving elsewhere.
Whether November brings relief depends on what AI earnings say next.
#AsianMarkets #AIStocks #KOSPI #Nikkei #StockMarket
Your heatmap tells the story. South Korea's SK Hynix fell about 7%, Samsung Electronics 3%, Taiwan's Delta Electronics 9%, Japan's Advantest nearly 6%, and TSMC 1.9%. The KOSPI closed down 3.5% at 5,730.74 after triggering a sidecar earlier in the session, leaving it down about 16% for October.
The trigger came from Wall Street. Alphabet's heavy cash burn sent its shares down around 10% to 12%, wiping out nearly $400 billion in market value, while Amazon's results and a roughly 25% plunge in Intel added to fears that AI spending is outrunning returns.
The month has been rough across the region. As of October 22, the Nikkei was down more than 7% for the month and Jakarta's index nearly 11%. In China, the AI-heavy STAR 50 index is down about 40% in under four months, with the broader market having lost around $3.5 trillion since its May peak.
The selling has been concentrated in the crowded AI hardware trade, Korean memory and Taiwanese chips above all, rather than across all of Asia. Indonesia's investors have been rotating into bonds, and Thailand has benefited from capital leaving elsewhere.
Whether November brings relief depends on what AI earnings say next.
#AsianMarkets #AIStocks #KOSPI #Nikkei #StockMarket
