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SoftBank Plunges 7.5% as Asian Tech Stocks Extend Sell-Off on Broadcom Earnings Miss

2026-06-08 03:35:51

According to CNBC, on Monday, Asian tech stocks extended their sell-off as investors turned bearish on AI-linked plays following Broadcom's fiscal Q2 revenue miss last week. SoftBank Group plunged 7.5%, while Samsung Electronics and SK Hynix fell 5% and 2%, respectively. The Kospi Index dropped as much as 8%, with the two memory chip companies accounting for over 40% of the index. Taiwan's TSMC declined 2.1%, and Foxconn fell 5.1%. The tech rout erased approximately $1.8 trillion in S&P 500 market cap, according to a UOB note on June 8.

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