Asian Stocks Plunge as Kospi Drops Over 4% Amid Tech Giants' Decline

Asian stocks generally declined on Thursday, with South Korea's Kospi plummeting more than 4% following losses for Big Tech giants in the US. The index dropped to 6,306.40.

The decline was attributed to a combination of profit-taking and risk reduction ahead of Friday's nonfarm payroll report, according to Stephen Innes of SPI Asset Management.

Meanwhile, oil prices held steady, with Brent crude trading near $79 a barrel. The price of U.S. benchmark crude oil declined 0.4% to $74.93 a barrel.