Semiconductor Stocks Drag Asian Markets Lower as Hang Seng Reverses to 0.3% Gain on Financials

Semiconductor shares fell, dragging Asian markets lower, with South Korea's composite index down 5.46% to 6,035 points and Taiwan's weighted index down 1.84% to 48,395 points; supported by funds rotating into financial stocks, the Hang Seng reversed its early losses to close at 24,345 points, up 0.3%. ChangXin Memory Technologies said it will launch a new DRAM architecture by year-end, while the chief executives of Intel and Broadcom also said investor expectations for AI returns are high and the supply of capital could become an obstacle to AI development.