Asia Stocks Stumble as Chip Rout Meets Iran War Jitters
Part of composite article South Korea’s KOSPI Crashes 44%—$2 Trillion Wiped Out in 40-Day AI Chip Selloff View full article →
Asian stock markets swung between gains and losses on Wednesday as investors rushed to buy the dip in battered technology shares, while escalating tensions between Iran and Israel kept risk appetite in check. The region’s chip stocks continued their slide after a sharp sell-off on Wall Street, dragging benchmarks lower in Tokyo, Seoul, and Taipei. However, bargain hunters stepped in to snap up beaten-down shares, limiting losses. “Markets are caught between two forces: cheap valuations pulling buyers in, and geopolitical fear pushing them out,” said one analyst. Oil prices edged higher as traders priced in the risk of supply disruptions from the Middle East, adding to the cautious mood.