Asia tech stocks drop after Broadcom rattles AI trade and drags Wall Street names lower

Asian tech shares on Friday tracked losses in U.S. chip stocks after a downbeat earnings report from Broadcom sparked a rotation out of artificial intelligence-linked names into more defensive sectors.

The weakness was pronounced in South Korea’s chip-heavy market. Samsung Electronics fell nearly 7%, while SK Hynix dropped more than 8%. Other tech-related names also came under pressure, with Samsung SDI down over 7%, LG Display falling 7.4%, LG Innotek losing 6.1%, and Seoul Semiconductor sliding more than 6%.

Japanese technology stocks also fell. Tokyo Electron and Advantest dropped over 6% and 5% respectively. Murata Manufacturing, manufacturer of electronic components, fell 4.8%. Fanuc, manufacturer of industrial robotics,  lost 4.1%. 

In Taiwan, Apple supplier Hon Hai Precision Industry declined 1.7%,…