Global IT Market Update

Asian markets declined on Friday, 5 June, while US equity index futures also traded lower, as enthusiasm surrounding the AI-driven rally cooled after helping propel global markets to record highs earlier this year. South Korean stocks leading the regional decline after a sharp overnight sell-off in US technology stocks. South Korea’s Kospi index tumbled 5.7%, led by steep losses in major technology stocks. Shares of Samsung Electronics and SK Hynix fell around 6% and 8%, respectively, while the small-cap Kosdaq index dropped 2.41%. Japan's Nikkei 225 also slipped 1.1% on Friday. Australia’s S&P/ASX 200 edged lower, declining 0.2%.