South Korea's KOSPI index deepened losses to 6%; Samsung Electronics fell 7%, SK Hynix dropped nearly 8%.

A-share property stocks rallied, with Jinke and Jintou Chengkai opening at the daily limit-up. Huali Family, Rongfeng Holdings, Electronics City, Binjiang Group and Greenland Holdings were among the top gainers.

July 2 — Chinese A-share technology stocks plunged, led by semiconductors, compute hardware and storage-chip sectors. ChiNext and the STAR Market Composite fell 5.71% and 5.64% respectively. The move followed market reports that Meta is offering compute capacity externally, which investors interpreted as evidence of compute oversupply. Multiple industry sources said that reading is mistaken: Meta’s sale does not signal an end to AI capex but reflects the maturation and commercialization of AI infrastructure business models.