Asian stocks fell for the first time in four days after a selloff in chipmakers revived concerns that the artificial intelligence-driven rally may have gone too far, too fast.
South Korea’s Kospi — home to many companies involved in AI infrastructure buildout — fell almost 6%, pulling the MSCI Asia Pacific Index down 1.2%. SK Hynix Inc. and Samsung Electronics Co. each fell more than 8% in Seoul, while Kioxia Holdings Corp. tumbled 14% in Japan after a blistering rally that had sent the stock up more than 650% this year. Also hurting Korean chipmakers is news that Apple Inc. is in negotiations to purchase chips from two Chinese semiconductor makers.
