Asian equity markets retreated on Friday as investors booked profits in technology stocks and shifted to economically sensitive sectors.
South Korea’s KOSPI fell up to 6%, driven by an 8%+ decline in Samsung Electronics Co Ltd (KS:005930) and SK Hynix Inc (KS:000660); both later recovered part of the loss.
Labor Minister Kim Young‑Hoon told Reuters that major tech firms should share AI profits with suppliers, subcontractors and workers, and he mediated a last‑minute wage agreement between Samsung and a union, averting a strike.
Japan’s Nikkei 225 dropped 1.6% on losses in chip and AI makers; the worst performers were SUMCO Corp. (TYO:3436), Ibiden Co Ltd (TYO:4062) and Renesas Electronics Corp (TYO:6723). TOPIX remained flat, supported by industrials and consumer stocks.
Speculation that the Bank of Japan will raise interest rates in June intensified after Governor Kazuo Ueda signaled a discussion on rate hikes; stronger‑than‑expected April wage data gave the BOJ more headroom.
US market futures were down: Nasdaq 100 futures fell nearly 1% and S&P 500 futures slipped 0.5% in Asian trade, with investors eyeing May US non‑farm payrolls.
Hong Kong’s Hang Seng index fell 0.8%; China’s CSI 300 and Shanghai Composite traded in a tight range; Australia’s ASX 200 slipped 0.6%; Singapore’s STI down 0.1%; India’s Nifty 50 futures pointed to a flat open ahead of the RBI’s rate decision, expected to stay unchanged.
Ongoing uncertainty over the US‑Iran conflict and renewed Middle‑East hostilities added to market caution.
