Asian markets opened mixed on Thursday after Democrats won control of both chambers of the US Congress. Japanese shares initially rose before the Nikkei turned lower, while a sell-off in semiconductor stocks pushed South Korea’s Kospi down more than 4% at one point. Hong Kong and India rallied as investors weighed a sharp fall in oil prices against the prospect of tighter scrutiny of US data centre expansion.
Chip stocks drag on Seoul and Tokyo
South Korea’s Kospi was down 3.5% by late morning after recovering part of its earlier losses. Samsung Electronics fell 5.7% and memory chipmaker SK Hynix dropped 7.4%. Taiwan’s Taiex was down 1.6% in early trade, as selling spread across markets with large semiconductor sectors.
Japan’s Nikkei 225 gained about 0.4% early on before slipping 0.5%. Chipmaking equipment supplier Tokyo Electron fell 7.7%, while testing equipment maker Advantest dropped 9.4%. Investors were assessing whether greater scrutiny of data centre construction in the US could delay projects and slow near-term orders for Asian chip and equipment suppliers.
Hong Kong and India gain ground
Hong Kong’s Hang Seng rose 2.8% in early trading, while the Shanghai Composite edged up 0.1%. In Mumbai, the BSE Sensex was up about 1.6% shortly after the opening bell, and the Nifty 50 moved above 24,300. Lower crude prices helped support Indian shares, with banks and financial stocks among the early gainers.
The gains in Hong Kong and India followed a strong session on Wall Street, where the Dow Jones Industrial Average rose 3% and the S&P 500 gained 1.6% on Wednesday. The early reversal in Tokyo showed how quickly that lead gave way to concerns about US technology spending.
Brent trades near $94
Brent crude traded near $94 a barrel early on Thursday after falling nearly 9% overnight. Traders were pricing in a lower risk of escalation in the US war with Iran. For oil importers such as India, a sustained fall in crude would reduce the cost of energy imports and ease pressure on inflation.
Newshub Editorial in Asia – 5 November 2026
Asian markets opened mixed on Thursday after Democrats won control of both chambers of the US Congress. Japanese shares initially rose before the Nikkei turned lower, while a sell-off in semiconductor stocks pushed South Korea’s Kospi down more than 4% at one point. Hong Kong and India rallied as investors weighed a sharp fall in oil prices against the prospect of tighter scrutiny of US data centre expansion.
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