Asian technology stocks extend sell-off with SoftBank down 7% as AI plays take a hit

A semiconductor wafer is on display at Touch Taiwan, an annual display exhibition in Taipei, Taiwan April 16, 2025. Ann Wang | ReutersAsian technology stocks extended their sell-off on Wednesday, with semiconductor names leading declines after another weak session in the U.S.In South Korea, SK Hynix slid more than 10% after the chip giant missed analysts' estimates despite posting record quarterly profit and revenue. Samsung Electronics lost over 4%, while LG Innotek fell 9% and Seoul Semiconductor dropped over 6%. The latest weakness in Asian chip stocks reflects "the ongoing deleveraging process in Korea and softer sentiment towards global technology stocks," said Kieron Poon, investment director of Asian equities at Aberdeen Investments, in a Tuesday note. However, he added that the recent volatility "has not changed our long-term positive view." Japan's chip names also declined. Japan's computer memory manufacturer Kioxia was down 10%. Tokyo Electron fell 8.5%, while SoftBank Group, a major AI investment proxy through its stake in Arm, lost more than 7%. Taiwan's TSMC, the world's largest contract chip manufacturer, was 1.32% lower.Mainland China's tech-heavy ChiNext 300 index ...