Asian markets plunge as tech stocks tumble on rate hike fears

svt.se (Swedish) —

Asian stock markets fell sharply in Thursday trading, with South Korea's Kospi down over 7 percent at lunchtime. Technology and AI stocks plunged across Asia on fears of another US interest rate hike. Memory giants SK Hynix and Samsung Electronics dropped 11.1 and 9.2 percent respectively, while Tokyo's Nikkei 225 fell 4.8 percent and Softbank lost 9.4 percent. Chinese markets declined more moderately, with Shenzhen down 2.4 percent, Shanghai down 1.7 percent, and Hong Kong's Hang Seng down 1.0 percent.


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