SoftBank Group shares plummeted as much as 9.2% on Wednesday, leading a broader decline in technology stocks across Asia. The move was driven by losses in US tech giants, including AI darling Nvidia.
The Japanese firm’s shares dropped for the second consecutive session after announcing a $2 billion investment in Intel, with Intel shares rising 6.97% to close at $25.31 on Tuesday.
Other Japanese tech stocks also declined, including Advantest and Renesas Electronics, which fell by 6.27% and 2.46%, respectively. Similarly, technology companies in South Korea, Taiwan, and Hong Kong followed suit after US tech stocks dropped overnight.
The US government is considering taking equity stakes in semiconductor companies that receive funding under the CHIPS Act, a move seen as a bid to boost the country’s semiconductor industry and scientific research.
TSMC, Samsung, and SK Hynix – all recipients of CHIPS Act funding – saw their shares decline. In Hong Kong, the Hang Seng Tech index lost 0.87%, with Kuaishou Technology and JD Health International among the worst performers, down 4.8% and 3.31%, respectively.
Overall, the global tech selloff has seen losses in major players like Alibaba Group and Xiaomi Corp, which fell by 1.44% and 1.34%, respectively.
Source: https://www.cnbc.com/2025/08/20/softbank-group-shares-plunge-over-9percent-as-asian-tech-stocks-decline-.html