US stocks Heavy selling pressure overnight extended to Asia, with Japanese and Korean stock markets opening lower on Friday.
south korea The Composite Stock Price Index (Kospi) once fell 8.8%, causing a 20-minute trading halt; Japan’s Nikkei 225 index fell 5.6%, down nearly 20% from its June high, and fell into a technical bear market during the session.
South Korea’s Kospi index once fell below the 5,000-point mark, and major chip makers became the focus of selling pressure. Shares of Samsung Electronics and SK Hynix both fell more than 10% in early trading, dragging the market down.
Bloomberg News reported that as selling pressure on AI-related stocks increases, funds are pulling money out of some of the stocks that had the strongest gains earlier this year. The Nikkei 225 index fell once to 57,683.78 points, down nearly 20% from its June high of 72,366.34 points, reaching the limit of a technical bear market.
Asian shares also remained weak overall. The MSCI Asia Pacific index once fell 1.9%, falling for the seventh consecutive trading day, setting a record for the longest decline since August 2023.
