长鑫存储技术（ChangXin Memory Technologies / CXMT）Private± Mixed
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Asian stocks fell for a second straight session on Friday amid growing questions about sky-high artificial intelligence-driven valuations. China's Shanghai Composite index tumbled 3.05 percent to 3,764.15 as CXMT's $8.6 billion IPO and a pipeline of large listings raised fears of a liquidity crunch, while Hong Kong's Hang Seng index fell 1.78 percent to 24,562.24 after an overnight sell-off in U.S. semiconductor stocks. Japanese markets plummeted, with the Nikkei average slumping 4.03 percent to 64,141.12 and the broader Topix index settling 2.72 percent lower at 3,919.21, as investors sold off chipmakers and other AI-related shares. Australian markets ended lower, with the benchmark S&P/ASX 200 dropping half a percent to 8,796.70, while New Zealand's benchmark S&P/NZX-50 index rose 0.59 percent to 13,694.68, snapping a four-session losing streak. The U.S. dollar held steady but was poised for a weekly decline after softer U.S. CPI and PPI data, and gold rose about half a percent to $3,997 an ounce.