{
  "id": 14105927,
  "title": "Seoul, Tokyo stocks plunge as Asia suffers fresh tech rout",
  "url": "https://urgent.news/2026/10/13/seoul-tokyo-stocks-plunge-as-asia-suffers-fresh-tech-rout",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T03:19:55.000Z",
  "source": {
    "name": "The Jakarta Post",
    "slug": "the-jakarta-post",
    "url": "https://www.thejakartapost.com/business/2026/10/13/seoul-tokyo-stocks-plunge-as-asia-suffers-fresh-tech-rout.html"
  },
  "original_language": "en",
  "account": "Seoul, Tokyo and Taipei stock markets plummeted on Tuesday, driven by technology firms' losses amid concerns over the AI investment boom. Traders anticipated a crucial earnings season and release of key US data. The decline was exacerbated by a drop in oil prices, despite Houthi attacks on Saudi Arabia heightening Middle East tensions.\n\nSouth Korea's Kospi fell over six percent, with chipmakers SK hynix and Samsung suffering heavy losses due to reports of China's progress on new technology to increase memory density. China's ability to develop competitive products at lower costs is challenging market share, pricing power, and durability of margins, according to Pepperstone's Chris Weston.\n\nJapanese stocks also dipped sharply, with the Nikkei 225 losing nearly three percent as Kioxia plummeted more than 12 percent. Tokyo Electron and Advantest were down more than six percent. TSMC's 1.8 percent decline dragged Taipei down more than two percent. Hong Kong, Shanghai, Sydney, Wellington and Manila also experienced significant losses.\n\nThe global tech sector has been recovering from a summer rout, wiping trillions off markets due to concerns about elevated valuations and returns on massive investments. Traders remain uneasy, with Broadcom CEO Hock Tan likening investor AI buying to gambling and warning investors about the industry's unsustainable model. OpenAI's recent losses, despite reporting $50 billion in annualized revenue, added to the unease.\n\nPre-market earnings reports from leading tech firms will be closely watched for insights into the AI sector's outlook, considering rising borrowing costs and volatility. The Middle East remains a concern after several explosions in Riyadh, attributed to Houthi attacks on the capital's airport and oil facilities, killing at least 18 people.",
  "summary": "Seoul, Tokyo and Taipei led losses across Asian stock markets on Tuesday as technology firms plunged on fresh worries about the outlook for the AI investment boom, with traders preparing for a crucial earnings season and release of key US data.",
  "key_points": [
    "Seoul, Tokyo, and Taipei stocks plummet over 6%, driven by tech losses",
    "Oil price drop and Middle East tensions exacerbate market decline",
    "China's tech advancements threaten market share and pricing power"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}