KOSPI rout shakes Asian markets as Apple hikes prices

South Korea’s KOSPI tumbled 8.2% on Friday and MSCI’s Asia‑Pacific index outside Japan slid 3.8% after Apple raised prices for iPads and MacBooks. The regional selloff closed a volatile week that began with record highs; the MSCI index finished the week down about 5.4% after hitting a record earlier in the week.

Japan’s Nikkei fell about 5% while Chinese blue chips and Hong Kong’s Hang Seng also moved lower. Apple shares declined roughly 6.1%, reducing the company’s market value by about $250 billion following the price increases. Micron Technology rose about 16% to a record high.

Currency markets reflected a defensive tone. The yen traded near 161.82 per dollar, close to its weakest level in four decades and above the 160 mark often cited as a potential intervention threshold. The dollar index held around 101.46, near its strongest since May 2025. Two‑year Treasury yields were near 4.125% and 10‑year yields around 4.402%.

U.S. data released this week showed headline inflation broadly in line with expectations. Revised figures indicated faster first‑quarter GDP growth partly because imports were marked lower. Consumer spending nearly stalled in the latest readings.

Oil prices eased slightly. Brent crude slipped about 0.25% to $75.07 a barrel after an earlier bounce tied to reports of an attack on a vessel leaving the Strait of Hormuz. More tankers have transited the waterway with naval escorts, while warnings from Iran about unapproved routes kept a risk premium in the market.

Precious metals remained under pressure. Spot gold hovered near $3,992 an ounce after about a 12% monthly decline, and silver traded around $56.30, down roughly 25% for the month.

Market participants cited rising demand for memory chips tied to artificial intelligence projects. Chipmakers reported stronger profits amid that demand, and some device makers raised prices to offset higher memory and storage costs. These shifts in costs and profits coincided with the end of the quarter.