Korean chip stocks tumble amid China competition fears

Asian semiconductor stocks plunged on Tuesday, with South Korea's SK Hynix falling as much as 14% and Samsung Electronics down 13.4%, driving the KOSPI index down 9.4%. SK Hynix's US shares closed below their IPO price for the first time since listing. The selloff was fueled by concerns over AI infrastructure financing, China's chipmaking advances, and CXMT's strong market debut, which intensified competition fears.