Asian shares fall sharply, with South Korea's Kospi down 5.1%, after U.S. AI-related stocks decline on Broadcom earnings miss

South Korea's Kospi dropped 5.1% to 8,199.44, while Japan's Nikkei 225 slipped 1.3% to 66,573.85 and Hong Kong's Hang Seng declined 1.2% to 24,948.96. The declines followed sharp falls in U.S. AI-related stocks on Thursday, including a 12.6% drop in Broadcom shares after the chipmaker gave a forecast that fell short of investor expectations.

In Asia, major semiconductor and technology companies were hit hardest: SK Hynix plunged 8.6%, Samsung Electronics shed 5.4%, and Tokyo Electron fell 7%. Micron Technology dropped 7.7% in the U.S., and cybersecurity company CrowdStrike Holdings fell 3.8%.

Oil prices stabilized after falling on Thursday. Brent crude was up 0.4% to $95.41 per barrel, while U.S. crude flatlined at $93.04 per barrel. The oil market continues to trade on expectations of an imminent deal between American and Iranian negotiators that would resume flows through the Strait of Hormuz.