Asian markets weaken amid global tech jitters

February 06, 2026 (MLN): Asian markets opened Friday on a weak footing, with broad-based declines across the region as a tech-led selloff in the United States spilled over into regional trading.

South Korea’s Kospi bore the brunt of the pressure, tumbling as much as 5% at one stage before paring losses to around 2%, according to CNBC.

The tech-heavy Kosdaq also remained under strain, down about 2.5%.

Heavyweight stocks led the decline, with Samsung Electronics and SK Hynix down around 1% and 0.7%, respectively, while Hyundai Motor slid nearly 5%.

Defense major Hanwha Aerospace fell close to 5%, and LG Energy Solution lost almost 3%.

South Korea’s equity market, which is heavily tilted toward semiconductor and automobile stocks, has seen sharp swings in recent sessions as global technology shares weaken.

Elsewhere in Asia, Japan’s Nikkei 225 reversed early losses to gain 0.34%, while the broader Topix index rose 0.68%.

However, Japanese pharmaceutical stocks came under notable pressure after U.S. President Donald Trump unveiled a website offering discounted prescription medicines.

Sumitomo Pharma plunged more than 5%, while Takeda Pharmaceutical, Japan’s largest drugmaker, declined around 1.8%.

Hong Kong equities also traded lower, with the Hang Seng Index down about 1.3%, trimming earlier losses, while mainland China’s CSI 300 hovered slightly in the red.

Australia’s S&P/ASX 200 extended declines as the session progressed, falling just over 2%.

In commodities trading, spot silver prices rebounded nearly 1.7% after plunging about 13% in the previous session, highlighting continued volatility in precious metals.

Global risk conditions were shaped by overnight losses on Wall Street.

In the United States, Alphabet shares slipped about 0.5% after the company flagged a sharp rise in artificial intelligence spending, projecting capital expenditure of $185bn for 2026.

Qualcomm tumbled more than 8% after issuing a weaker-than-expected outlook, citing a global memory shortage.

U.S. equities closed sharply lower overnight, with the Dow Jones Industrial Average falling 1.2%, the S&P 500 losing 1.23% and slipping into negative territory for the year, and the Nasdaq Composite posting the steepest decline, down 1.59%.

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