MSCI Asia-Pacific Index drops nearly 2.1% as renewed concerns over AI spending spark a sell-off in chip stocks

Glonghui, July 28 — As renewed concerns over artificial intelligence (AI) spending triggered a sell-off among chipmakers, the MSCI Asia Pacific Index fell nearly 2.1%. The biggest drag on the index came from SK Hynix, which dropped nearly 10.4%, and Samsung Electronics, which fell more than 8.5%. The benchmark index’s gains for the year have narrowed to 14.4%.