On Friday, the Asia - Pacific markets commenced trading on a downbeat note, largely due to the previous night's slump in U.S. tech stocks and a dampening of investor hopes for a Federal Reserve rate cut in December. Stocks of companies associated with artificial intelligence, like Oracle and AMD, witnessed a decline. Nvidia, in particular, saw its shares tumble by over 3%. The September employment report revealed that the number of newly created jobs in the U.S. surpassed expectations. As a result, investors now anticipate only around a 40% chance of a Federal Reserve rate cut next month. This development is unfavorable for investors who have placed bets on a rate cut.

During the morning trading session, Asian tech stocks felt the impact. The Nikkei 225 Index initially plunged by more than 2%, and SoftBank Group's shares dropped by 8%. Meanwhile, the South Korean KOSPI Index experienced a rapid expansion of its initial decline, reaching 4%. Samsung Electronics' shares fell by 5%, and SK Hynix's shares dropped by 9%.