Asian shares plunge as traders sell to lock in profits after recent rallies driven by AI

BANGKOK: Shares plunged Friday in Asia, led by heavy losses in Japan and South Korea as traders sold to lock in gains from recent rallies in stocks related to artificial intelligence.

U.S. futures also declined, while oil prices fell.

Tokyo’s Nikkei 225 index shed 5% to 68,783.50 and the Kospi in Seoul plunged 8.4% to 8,182.54.

Hong Kong’s Hang Seng lost 1.9% to 22,644.49, while the Shanghai Composite index slipped 2.1% to 4,032.30.