Asian markets experienced a predominantly lackluster session on Friday, following a technology-driven decline on US Market. South Korea’s Kospi experienced a decline of up to 5% at one stage, yet the index reduced its losses and ultimately closed down 1.44% at 5,089.14; the small-cap Kosdaq fell by 2.49%, finishing at 1,080.77. Index heavyweights Samsung Electronics and SK Hynix fell 0.44% and 0.36%, respectively, while Hyundai Motor was 4.3% lower. Defense heavyweight Hanwha Aerospace was 3.75% down, while LG Energy Solution lost 2.53%. South Korea’s market, which is heavily weighted in favor of companies in the chip and automotive industries, have seen sharp swings in the past week as sentiment over tech stocks sours.

Australia’s benchmark index experienced declines in the region, decreasing by 2.03% to close at 8,708.8, marking its lowest point in nearly a month. Hong Kong’s Hang Seng Index was down 1.1% in its final hour of trade, while mainland China’s CSI 300 retreated 0.57% to end at 4,643.6. In contrast, Japan’s Nikkei 225 reversed losses to gain 0.81% and finish at 54,253.68, while the broad-based Topix increased by 1.28% to achieve a new record high of 3,699. Shares of Japanese auto giant Toyota climbed 2% after the company released its third-quarter results, and announced that CEO Koji Sato was stepping down. Sato will be replaced by current Chief Financial Officer Kenta Kon.

Japanese pharmaceutical makers slumped on Friday, after U.S. President Donald Trump unveiled his website offering discounted prescription medicines. Sumitomo Pharma dropped almost 4%, while Takeda Pharmaceutical, Japan’s largest drugmaker, fell 1.34%. On the commodities front, spot silver prices increased by 0.5%, following a decline of approximately 13% on Thursday. In the United States, the technology behemoth Alphabet came under pressure after reporting fourth-quarter results and flagging a sharp rise in artificial intelligence spending, with capital expenditure totaling $185 billion for 2026. Equities declined by 0.5%.

Qualcomm experienced a decline of over 8% following the release of a forecast that fell short of expectations, attributed to a global memory shortage. Overnight in the U.S., the Dow Jones Industrial Average shed 1.20%, while the S&P 500 declined by 1.23%, resulting in a shift into negative territory for the year. The tech-heavy Nasdaq Composite posted the biggest decline, dropping 1.59%.