Summary · why it matters
Asian stocks declined on Friday amid a broad sell-off in semiconductor and artificial intelligence-related companies after Microsoft and Apple increased prices on some of their most popular products. Japan's Nikkei average tumbled 3,005.46 points, or 4.15 percent, to 69,360.88, with SoftBank, Advantest, and Taiyo Yuden losing 10 to 13 percent. Seoul's Kospi index plunged 519.09 points, or 5.81 percent, to 8,411.21, as Samsung Electronics, SK Hynix, SK Square, and Kioxia Holdings plummeted 5 to 11 percent on worries that expensive memory chips would discourage large-scale AI investment. China's Shanghai Composite index fell 93.02 points, or 2.26 percent, to 4,027.26 after talks to sell a controlling stake in Evergrande Property Services Group collapsed, while Hong Kong's Hang Seng index ended down 405.05 points, or 1.76 percent, at 22,671.86, with Alibaba Group Holding shares falling 5.8 percent. Australian markets edged up slightly, with the S&P/ASX 200 rising 15.50 points, or 0.18 percent, to 8,764.20, and New Zealand's S&P/NZX-50 index finished marginally higher at 13,495.24.
SK Hynix Inc
Kioxia Holdings Corporation
Advantest Corp.
Taiyo Yuden Co., Ltd.
Samsung Electronics Co Ltd
Alibaba Group Holding Ltd
SK Square Co Ltd
Evergrande Property Services Group
SoftBank Corp.
SoftBank Group Corp.