A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
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A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
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Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
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Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)
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Specialist Michael Gagliano works at his post on the floor of the New York Stock Exchange, Thursday, June 25, 2026. (AP Photo/Richard Drew)
BANGKOK (AP) — Shares plunged Friday in Asia, led by heavy losses in Japan and South Korea as traders sold to lock in gains from recent rallies in stocks related to artificial intelligence.
U.S. futures also declined, while oil prices fell.
Tokyo’s Nikkei 225 index shed 5% to 68,783.50 and the Kospi in Seoul plunged 8.4% to 8,182.54.
Hong Kong's Hang Seng lost 1.9% to 22,644.49, while the Shanghai Composite index slipped 2.1% to 4,032.30.
In Australia, the S&P/ASX 200 was nearly unchanged at 8,745.80.
Taiwan's Taiex gave up 3.3%.
Both the Nikkei and Kospi hit record highs earlier this week.
The wide swings are typical of recent volatility in markets as investors react to the and other investments.
On Thursday, the U.S. stock market drifted to a mixed finish after veered back up , while Apple shares dropped 6.1% after the company on many of its products.
The S&P 500 finished nearly unchanged with a dip of less than 0.1% after swinging between gains and losses throughout the day. The Dow Jones Industrial Average added 71 points, or 0.1%, and the Nasdaq composite fell 0.5%.
Micron Technology helped lead the market after jumping 15.7%. The maker of computer memory reported much bigger profit and revenue for the latest quarter than analysts expected, and it gave a stronger growth forecast for the current quarter than Wall Street expected. That helped allay worries a bit that its stock had grown too expensive after coming into the day with a surge of 267% so far this year.
Micron and AI stocks broadly have been because of worries that their profits can’t possibly keep pace with the . Beyond Micron, Qualcomm said late Wednesday that the acceleration of the AI era is forcing it to upgrade forecasts for its own growth in upcoming years.
SpaceX, meanwhile, fell 1% to drop below $153 for its lowest finish since on the Nasdaq earlier this month.
A report showed , climbing to 4.1% last month from 3.8% in April. The hope is that it will ease because of a drop-off in oil prices.
The price for a barrel of Brent crude oil, the international standard, declined 1.8% to $74.13 per barrel early Friday. It has fallen from its highs above $100 caused by the closure of the because of the Iran war, which slowed the global flow of oil.
U.S. benchmark crude oil lost 2% to $70.46.
In currency trading, the U.S. dollar fell to 161.64 Japanese yen from 161.80 yen. The euro rose to $1.1376 from $1.1371.
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AP Business Writer Stan Choe contributed to this report.
