ACEA: Chinese automaker BYD's new passenger car registrations in the EU rose 159% in May.

Tech-led selling accelerated in the afternoon. Japan's Nikkei 225 closed down 2,565.58 points (-3.55%) at 69,788.38 on June 23 (Tue). South Korea's KOSPI closed down 910.49 points (-9.99%) at 8,204.06. SK Hynix and Samsung Electronics each fell more than 12%.

Seasonally weak Q2 consumer demand and earlier resource-driven finished-goods price hikes have eroded acceptance of high-priced memory; large-cap SSD and embedded eMMC shipments face acute pressure. Primary suppliers are struggling to push further resource-price increases. Since mid-late March spot NAND wafer trade prices have reversed lower; small traders with liquidation pressure are undercutting offers and several wafer types have fallen back to late-January levels. Reflecting spot trade moves, 512Gb TLC wafer price cut to USD22.5 per wafer and 1Tb QLC wafer to USD26.5 per wafer.