Singapore tech stocks plunge as global semiconductor sell-off hits Asia

Singapore tech stocks plunged Friday, tracking a global rout in technology and semiconductor shares. The Straits Times Index fell 2.3 percent, while Japan's Nikkei dropped over 6 percent into bear market territory. Regional losses were led by South Korea's Kospi, which dove over 8 percent, with SK Hynix tumbling 13 percent and Samsung Electronics shedding 10 percent. Singapore's AEM slid 9.3 percent after a previous 20 percent loss, while UMS Integration, Frencken, and CSE Global also fell sharply. The sell-off followed Wall Street's Nasdaq Composite plunging 5.52 percent Thursday on concerns about tighter artificial intelligence regulation after Democrats' midterm victory. The Philadelphia Semiconductor Index dropped 12.3 percent, with Broadcom and Nvidia falling 10 percent and 9 percent respectively.