Central News Agency (Central News Agency, Hong Kong, July 2nd, Combined Foreign Press) Investors are selling off technology stocks that have driven market gains, leading most Asian stock markets to close lower today, with South Korea's KOSPI index plunging nearly 8%. According to Agence France-Presse, recent market concerns that the artificial intelligence (AI) boom may have peaked have intensified global market volatility, keeping investor sentiment on edge. Factors such as overvalued tech stocks, the difficulty of generating short-term returns from massive AI investments, and the possibility of rising borrowing costs are putting new pressure on the popular trades that have dominated the market in recent years. Although the stock market performed well in the quarter ending June 30, the start of the current quarter has been poor, with the Seoul stock market particularly hit hard by selling pressure. However, Federal Reserve Chairman Kevin Warsh recently stated that the Fed is committed to curbing "excessive" price increases. He noted that inflationary pressures have "eased" in recent weeks, temporarily dispelling market concerns about an imminent interest rate hike by the Fed. Following selling pressure on US chip stocks yesterday, the KOSPI index closed down 7.89% today, with South Korean memory chip giants SK Hynix and Samsung Electronics falling over 14% and over 9% respectively. Analysts pointed to margin calls on retail investor financing as the main reason for the expanded selling pressure. Additionally, according to Bloomberg News, Apple is reportedly in talks with two Chinese companies to purchase chips, dragging down chip stocks. Most major Asian stock market indices closed lower today. Tokyo, Shanghai, Taipei, and Wellington closed down, while Hong Kong, Sydney, and Manila closed higher. (Compiled by Hung Chi-yuan) 1150702 Stand with facts, your every sponsorship is a force to protect press freedom. Download the Central News Agency "One-Hand News" APP for