South Korean stocks retreated as heavyweight chipmakers declined, following an overnight selloff in US technology shares amid elevated oil prices.
The Kospi index slid as much as 4.1% on Friday before paring about half of its losses, though it remained on course for a fourth straight week of declines. Samsung Electronics Co. and SK Hynix Inc. each dropped more than 4% at one point, thought the latter recovered much of its losses. Japan’s Nikkei 225 also fell as much as 2.3%, with semiconductor-related names such as Sumco Corp. among the worst performers on the chip-heavy gauge.
