South Korea's KOSPI May Extend Losses as Tech Selloff Weighs on Asian Markets

South Korea's KOSPI could face further declines Friday after snapping a two-day winning streak, as renewed selling pressure on technology stocks weighs on the Asian market outlook. The index fell 74.78 points, or 1.24%, to close at 5,937.66 on Thursday after peaking at 6,100.11. The pullback followed a negative Wall Street session, where the NASDAQ tumbled 1.38% to 26,184.72 amid resurgent concerns over artificial intelligence trade. Alphabet (GOOGL) plunged 13.2% after reporting weaker-than-expected third-quarter revenue and negative free cash flow. The Dow shed 0.25% to 52,342.56, and the S&P 500 lost 0.30% to 7,720.39. Thursday's KOSPI losses were led by the electronic, industrial and energy sectors. Volume totaled 279.7 million shares worth 24.9 trillion won, with 593 gainers and 270 decliners. Investors await September industrial production and retail sales data later Friday.