Emerging Markets-Taiwan tech rout drags Asian equities lower

The chip-heavy South Korean benchmark KOSPI .KS11 ended the week nearly 9% in the red on Thursday, rounding off a turbulent week of sharp swings in memory chipmakers, the first rate hike in over three years, and regulatory intervention in single-stock leveraged funds that are behind much of the upheaval.

In Singapore, Southeast Asia's financial hub, equities .STI fell as much as 0.8% and extended declines from the previous session, while the currency SGD= was steady at 1.2904 a dollar.

The country's non-oil domestic exports rose by 20.7% in June from a year earlier, as electronics exports continued to surge amid AI-related demand while non-electronics declined.

In neighbouring Malaysia, stocks .KLSE were up 0.2% while the ringgit MYR= weakened marginally to 4.081 per U.S. dollar, its lowest since early July.

Data showed that Malaysia's inflation rose 1.9% in June from a year earlier, while its official advance estimate showed that the economy grew 5.8% in the second quarter from a year earlier.