Asian tech stocks fell across the board SoftBank Group's stock price plummeted by over 9% at one point

Asian tech stocks are falling, with Softbank Group's stock price plummeting 9.17% at one point on Wednesday, with the overnight drop in US tech stocks having a knock-on effect. This Japanese tech investment company's stock price has fallen for the second consecutive trading day after announcing a $2 billion investment in Intel. Intel's stock price rose 6.97% on Tuesday to $25.31 in the US. Other Japanese tech stocks also saw declines, with semiconductor giant Advantest's stock price falling 6.27%. Meanwhile, Renesas Electronics and Tokyo Electron fell by 2.46% and 0.75% respectively. With darling of the artificial intelligence field Nvidia's stock price falling overnight, US tech stocks followed suit. Sources say that US Commerce Secretary Howard Lutnick is considering having the federal government invest in semiconductor companies that can receive funds to build factories in the US under the "Chip Act." Taiwanese chip company TSMC and manufacturer Foxconn saw their stock prices fall by 1.69% and 2.16% respectively. TSMC produces high-performance graphic processors for Nvidia, which power large language models, while Foxconn has established a strategic partnership with Nvidia to jointly build an "AI factory." Meanwhile, most South Korean tech stocks are falling, with chip maker SK Hynix's stock price dropping by 3.33%. However, Samsung Electronics rose by 0.75%.