SK Hynix plunges 8% amid Asia tech rout as Fed rate hike fears, AI funding worries mount

A sell-off in global technology hardware stocks deepened Thursday, with Asian chipmakers tracking Wall Street losses as concerns over further Federal Reserve interest rate hikes, financing of artificial intelligence investments weigh on sentiment . South Korean chip giant SK Hynix plunged over 8%, while rival Samsung Electronics fell 7.1%. Other South Korean chip-related stocks also came under pressure. LG Innotek sank 8.1%, Seoul Semiconductor shed 7.7% and Samsung SDI declined 6.8%. In Japan, technology investment giant SoftBank Group tumbled 7.9%. Semiconductor testing equipment maker Advantest dropped 6.9%, while chipmaking equipment supplier Tokyo Electron lost 5.4%. Renesas Electronics declined 5.4%.