SeoulSamsung and SK Hynix dragged South Korea’s benchmark stock index down 5.5%.

Japan’s Nikkei 225 and Taiwanese shares fell nearly 2%, and SoftBank lost more than 8%.

Chinese media reported China’s ChangXin Memory Technologies unveiled a design breakthrough that would let memory chips store more data without growing.

Investors now watch whether the company ships the design, which so far rests on Chinese media reports.

How each outlet framed it
The New York Times
ties the Korean sell-off to CXMT's reported chip-design breakthrough, not only AI spending fears

Sources: The New York Times