Asian technology stocks followed the downward trend of US chip stocks! SoftBank fell more than 9%, and Xiaomi plummeted over 15%.

According to the Zhitong Finance APP, Asian tech stocks plummeted on Friday due to the new round of downturn in US chip stocks, further heightening concerns about spending on artificial intelligence (AI). As of the time of publication on Friday, SoftBank fell by over 9%, Tokyo Electronics, a chip equipment manufacturer, fell by over 8%, Advantest fell by over 10%, and Renesas Electronics fell by over 8%. Japanese storage chip manufacturer Kioxia saw a dramatic drop of over 15%. Earlier, a federal jury in Texas ruled on Thursday that the company had infringed on a patent related to computer storage technology from Viasat and ordered it to pay $229 million in compensation. Meanwhile, the South Korean market was closed for a public holiday.