New Delhi, July 30 -- Globally fancied stocks of some chipmakers have been battered lately. On Wednesday, Asian markets fell, with South Korea leading the losses. Its Kospi index dropped by over 11% and has now lost more than two-fifths of its value since its peak in June. Taiwan's market index slid 5% and Japan's Nikkei 2.6%.

Shares of South Korean chipmaker SK Hynix fell 9% after its sixfold jump in earnings failed to impress investors. While demand for its memory chips that run alongside AI processors evidently remains strong, the stock market debut this week of Chinese rival ChangXin might have drawn some chip investors away.

In America, the world's top AI chip company Nvidia has seen its share price descend from its peak earlier th...