SK Hynix Shares Jump 11% as Asian Tech Stocks Rebound

South Korean memory chipmaker SK Hynix led a broad rally in Asian technology shares on Wednesday, following a rebound in U.S. semiconductor names after a sharp sell-off earlier in the week. Shares of the company jumped over 11% in Seoul, building on previous session’s gains. The bounce back comes after the stock suffered its biggest-ever one-day decline on Monday, as investors locked in profits amid growing worries over AI spending.

The rally spread across Japan’s chip sector, with Advantest climbing 4.2% and Lasertec gaining 6.4%. Domestic rival Samsung Electronics rose 6.8%.

The gains followed a rebound on Wall Street, where semiconductor shares recovered after the previous sessions sell-off. The VanEck Semiconductor ETF rose 2.5%, with Micron Technology and Lam Research each climbing about 5%. Applied Materials and Teradyne gained more than 3%.

Despite the rebound, some investors warned that enthusiasm around AI-linked hardware stocks is becoming stretched. Jordan Cvetanovski, chairman and chief investment officer at Pella Funds, noted that demand for AI infrastructure remains strong, but signs of speculative excess are beginning to emerge.