South Korean chip stocks slide after overnight US selloff on AI boom concerns

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The logo of Samsung Electronics is seen at the company's store in Seoul, South Korea, April 15, 2025. REUTERS/Kim Hong-Ji/File Photo Purchase Licensing Rights, opens new tab

SEOUL, July 8 (Reuters) - Shares of South Korean memory ​chipmakers Samsung Electronics (005930.KS), opens new tab ‌and SK Hynix (000660.KS), opens new tab fell as much as ​4.4% and 5%, ​respectively, in early morning ⁠trade on Wednesday, ​tracking a broad selloff in ​U.S. semiconductor stocks after investors grew increasingly concerned ​about the sustainability ​of the AI-driven chip boom.

High-flying ‌memory ⁠and semiconductor stocks tumbled overnight, with Intel (INTC.O), opens new tab, Micron (MU.O), opens new tab and ​AMD (AMD.O), opens new tab closing ​down ⁠9.7%, 4.7% and 6.5%, respectively.

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Also, ​the Philadelphia Semiconductor ​Index ⁠lost (.SOX), opens new tab 4.7% as investors questioned whether ⁠AI-related ​spending can ​be sustained.

Reporting by Heekyong Yang; ​Editing by Tom Hogue

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