South Korea’s Kospi fell as much as 5% on Friday, leading another weak session in most Asian markets after a tech meltdown on Wall Street.
South Korea’s index pared losses and was last down 2%; small company Kosdaq fell by 2.48%.
The heavyweights of the index, Samsung Electronics and SK Hynix, fell by 1% and 0.71%, respectively, while Hyundai Motor fell by 4.81%.
Defense heavyweight Hanwha Aerospace fell 4.97%, while LG Energy Solution lost 2.91%.
The South Korean market, which is heavily weighted in favor of chip and auto companies, has seen sharp changes in the past week as sentiment around tech stocks has deteriorated.
Elsewhere, Japan’s Nikkei 225 reversed losses to gain 0.34%, while the broader Topix rose 0.68%.
Shares of Japanese pharmaceutical manufacturers also fell on Friday, after US President Donald Trump unveiled his website that offers discount prescription drugs, SEEbiz reports.
Sumitomo Pharma fell more than 5%, while Takeda Pharmaceutical, Japan’s biggest drugmaker, fell 1.75%.
Hong Kong’s Hang Seng Index fell about 1.26%, recouping earlier losses, while China’s CSI 300 fell slightly.
However, Australia’s S&P/ASX 200 showed more signs of weakness as the session progressed, falling 2.06%.
In the commodities market, spot silver prices reversed their earlier decline, climbing 1.68% after falling around 13% on Thursday.
