BEIJING (dpa-AFX) - Asian stocks fell broadly on Friday, with South Korea and Japan leading losses due to heavy selling in major technology stocks.
An AI-driven rally that boosted stocks earlier this week fizzled out after chip giant Broadcom's AI revenue projection fell short of expectations.
Lingering uncertainty over U.S.-Iran peace negotiations also kept regional markets under pressure.
Hezbollah rejected the latest ceasefire agreement between Israel and the Lebanese government, saying the 'imaginary ceasefire' would amount to 'a surrender, defeat and achieving the enemy's goals.'
Elsewhere, Israeli ministers refrained from approving the proposed ceasefire arrangement during a security cabinet meeting.
'Hezbollah opposes it, and therefore I am not bringing it for a decision. If it agrees, I will bring it for your approval,' Prime Minister Benjamin Netanyahu told ministers.
The dollar held steady in Asian trade and was on track for a weekly gain ahead of key U.S. jobs report due later in the day that might show moderation in job growth.
Spot gold was subdued at $4,463 an ounce while Brent crude futures fell toward $94 a barrel but were on track for a weekly gain amid stalled U.S.-Iran talks to find a diplomatic solution to end the war.
China's Shanghai Composite index dropped 0.74 percent to 4,027.74 amid a technology sell-off. Hong Kong's Hang Seng index ended down 1.15 percent at 24,961.95, dragged down by financials.
Japanese markets fell sharply as semiconductor stocks succumbed to heavy selling pressure following weak results from Broadcom. Investors were also wary of the flare-up in the Middle East hostilities.
The Nikkei average tumbled 1.31 percent to 66,588.12, extending losses for a second consecutive session. The broader Topix index settled marginally lower at 3,949.09. Advantest shares slumped 5 percent and Tokyo Electron plunged 6.6 percent.
Seoul stocks nosedived and the Korean won hit its lowest level since 2009 as investors locked in profits from a recent tech-led rally.
The Kospi index plummeted 5.54 percent to 8,160.59 due to selling by foreign investors and program-trading curbs. Samsung Electronics, SK Square and SK Hynix plunged 6-10 percent.
Australian markets fell notably as U.S.-Iran peace talks remained in limbo. The benchmark S&P/ASX 200 fell 0.70 percent to 8,625.10 as miners extended declines on falling base metals prices. The broader All Ordinaries index dipped 0.68 percent to 8,855.90.
CSL shares jumped 5.8 percent after the company disclosed that director Carolyn Hewson AO purchased almost A$100,000 worth of shares on market this week.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.46 percent to 13,161.97. erasing losses from the previous two sessions.
U.S. stocks ended mostly higher overnight as energy prices fell on hopes for a resolution to the Middle East war, helping offset Broadcom's disappointing revenue forecast and data showing an increase in weekly jobless claims to a four-month high.
The Dow jumped 1.7 percent to reach a new record closing high and the S&P 500 added 0.4 percent while the tech-heavy Nasdaq Composite slid 0.1 percent.
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