Chip giants SK hynix and Samsung were down around 5 per cent each in early trading.
The index has seen some wild moves this week – including Tuesday’s 10 per cent drop – amid waxing and waning optimism over the AI boom.
Tokyo, which is also heavy with tech firms, shed more than 3 per cent. Tech investment giant SoftBank plunged more than 12 per cent as the New York Times reported that ChatGPT-maker OpenAI is considering holding off an initial public offering until 2027.
There were also steep losses in Hong Kong, Shanghai, Singapore and Taipei.
The losses came even as investors pared expectations for US interest rate hikes after data showed the Federal Reserve’s favoured gauge of inflation came in slightly lower than expected in May.
Oil prices resumed the downward shift that has marked the week, having risen around 2 per cent on Thursday on news that a cargo ship was damaged by an unknown projectile off Oman’s coast in Hormuz.
That prompted the International Maritime Organisation to halt an evacuation of crews trapped by the US-Iran war and sparked concerns about the shaky truce put in place as the two foes hold peace talks.
US media reported that Iran struck the ship in the strait, and the Iranian agency that claims to regulate traffic there issued a warning afterwards.
“Any passage through routes outside the framework designated by PGSA will not be covered by safe passage guarantees,” the Persian Gulf Strait Authority said on X.
Iran has said it plans to introduce what it terms maritime service fees, which could complicate negotiations with Washington.
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