Asian shares mixed as tech stocks fall on AI boom concerns

Summarised from 2 outlets · Updated 19 Oct, 07:31 · Archive

Asian stock markets were mixed on Monday as technology stocks continued to decline amid concerns about artificial intelligence sustainability.

Asian stock markets showed mixed movement on Monday as technology stocks continued their recent decline. Oil prices fell more than 1% after President Trump's decision to waive sweeping sanctions on Russia, including on Russian energy.

South Korea's Kospi index rose 1.1% to 5,729.58, though it remains down more than 18% over the past month and well below the 9,000 mark it reached in June during the global AI frenzy. Samsung Electronics gained 0.7% whilst memory chipmaker SK Hynix fell 0.9%. Japan's Nikkei 225 lost 0.8% to 64,799.03, with chip equipment maker Tokyo Electron down 2.1% and SoftBank Group down 3.6%. China's Shanghai Composite index edged 0.2% higher to 3,722.20 following the country's better-than-expected economic growth of 4.5% in the July-September quarter, though China's leading memory chipmaker CXMT fell more than 7%. Taiwan's Taiex fell 1%, with Taiwan Semiconductor Manufacturing Co. down 0.6%. Australia's S&P/ASX 200 was 0.3% higher at 8,832.20.

How it is being reported

• Asian shares are mixed with tech stocks volatile, and oil falls on Trump's Russian sanctions waiverAsian shares are mixed as the volatility in technology stocks persists.Clickorlando · 19 Oct, 06:48
• Asian shares are mixed with tech stocks volatile, and oil falls on Trump's Russian sanctions waiverAsian shares are mixed as the volatility in technology stocks persists.News4Jax · 19 Oct, 06:48

In this story: Donald Trump · Samsung Electronics · SK Hynix · Tokyo Electron · SoftBank Group · CXMT · Taiwan Semiconductor Manufacturing Co. · South Korea

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