Asian equities largely decline on tech rotation; yen remains pinned near critical 160 mark

Asian markets fell on Friday as investors rotated out of high-flying technology names into cyclical, economically sensitive sectors. The tech-led selloff hit Japan and South Korea particularly hard, where semiconductor and AI stocks extended recent pullbacks. FX moves were notable: the yen remained pinned near the psychologically important 160 per dollar level, keeping USDJPY under focus and adding risk for Japanese assets and exporters. The rotation and yen weakness shaped market flows and sentiment across the region, pressuring equity indices and individual chip-related stocks highlighted in trading activity.