{"id":65512,"date":"2026-07-27T22:38:13","date_gmt":"2026-07-28T02:38:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asian-markets-retreat-as-sk-hynix-plummets-and-nikkei-slips-below-62000\/65512\/"},"modified":"2026-07-27T22:38:13","modified_gmt":"2026-07-28T02:38:13","slug":"asian-markets-retreat-as-sk-hynix-plummets-and-nikkei-slips-below-62000","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/asian-markets-retreat-as-sk-hynix-plummets-and-nikkei-slips-below-62000\/65512\/","title":{"rendered":"Asian Markets Retreat as SK Hynix Plummets and Nikkei Slips Below 62,000"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>) shares fell as much as 12%<\/strong>, with its U.S.-listed ADRs hitting record lows below their <strong>$149<\/strong> issue price amid a broader cooling of AI-driven semiconductor euphoria.<\/li>\n<li><strong>The Nikkei 225 (<a href=\"\/stock\/N225\">N225<\/a>) index dropped below the 62,000 yen mark<\/strong>, reaching a two-month low as heavyweights in the chip and banking sectors faced aggressive selling pressure.<\/li>\n<li><strong>Indonesia&#39;s rupiah hit a record low of 18,065 per U.S. dollar<\/strong>, driven by high dollar demand and surging global energy costs resulting from ongoing Middle East hostilities.<\/li>\n<li><strong>Japan and the U.S. are finalizing a $550 billion investment scheme<\/strong>, with foreign banks like JPMorgan (<a href=\"\/stock\/JPM\">JPM<\/a>) joining to alleviate dollar funding concerns for Japanese megabanks.<\/li>\n<li><strong>Alaska is experiencing an oil resurgence<\/strong> as Pacific allies, including Japan, seek secure energy alternatives to Middle Eastern supplies amid the escalating regional war.<\/li>\n<\/ul>\n<p>The Asian financial landscape faced significant headwinds on Tuesday as a sharp correction in technology stocks and persistent geopolitical tensions rattled investor confidence. South Korean memory giant SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>) led the decline, with its shares extending a downward spiral to <strong>12%<\/strong> as the initial excitement surrounding its record <strong>$26.5 billion<\/strong> U.S. listing evaporated. The company&#39;s American Depository Receipts (ADRs) plummeted to an intraday low of <strong>$139.01<\/strong>, significantly trailing the <strong>$149<\/strong> offering price set earlier this month.<\/p>\n<p>In Tokyo, the Nikkei 225 (<a href=\"\/stock\/N225\">N225<\/a>) slipped below the critical <strong>62,000 yen<\/strong> threshold, marking a sharp retreat from recent highs. The sell-off was primarily fueled by a rout in semiconductor-related shares, with Tokyo Electron (<a href=\"\/stock\/8035\">8035<\/a>) and Advantest (<a href=\"\/stock\/6857\">6857<\/a>) posting deep losses. <em>Market analysts suggest that concerns over the sustainability of AI infrastructure spending are prompting a massive rotation out of high-flying tech names into more defensive assets.<\/em><\/p>\n<p>Currency markets in Southeast Asia also signaled distress, as the Indonesian rupiah opened at a record weak level of <strong>18,065 per U.S. dollar<\/strong>. The breach of the <strong>18,000<\/strong> psychological barrier comes as Indonesia, a net oil importer, grapples with a widening trade deficit caused by skyrocketing crude prices. Bank Indonesia has reportedly maintained interest rates at <strong>5.75%<\/strong>, opting for direct market intervention rather than further tightening to stabilize the currency.<\/p>\n<p>Amid these market fluctuations, a strategic financial alignment between Tokyo and Washington is taking shape. Saisuke Katayama noted that the inclusion of foreign lenders like JPMorgan (<a href=\"\/stock\/JPM\">JPM<\/a>) in the <strong>$550 billion<\/strong> Japan-U.S. investment scheme is critical for removing dollar funding hurdles. Japanese megabanks, including Mitsubishi UFJ Financial (<a href=\"\/stock\/MUFG\">MUFG<\/a>), had previously expressed reluctance to fund long-term U.S. infrastructure projects due to the high cost of procuring greenbacks.<\/p>\n<p>Finally, the ongoing conflict in the Middle East has triggered a &quot;resurgence&quot; in Alaska&#39;s energy sector. With the Strait of Hormuz facing security risks, Japan and other Asian importers are increasingly looking toward Alaskan North Slope crude, which recently commanded a record premium of <strong>$13.11<\/strong> over <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">West Texas Intermediate<\/a>. <em>The shift highlights a broader trend of Pacific nations prioritizing supply chain security over traditional price benchmarks during periods of global instability.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SK Hynix (000660) shares fell as much as 12%, with its U.S.-listed ADRs hitting record lows below their 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