Investors sold off Asian semiconductor and data centre stocks on Thursday as they bet that Democratic control of the US Congress would slow the AI infrastructure build-out. Japan’s Nikkei 225 fell 1.5 per cent, South Korea’s Kospi declined 4.8 per cent, and Taiwan’s benchmark index dropped 2.6 per cent. Kioxia, Japan’s most valuable company in June, has lost over 70 per cent of its market value.
Chinese markets rose, with the CSI 300 up 0.4 per cent and the Hang Seng gaining 3.1 per cent, supported by state-backed buying. The S&P 500 rose 1.6 per cent overnight, while oil prices fell to $94 a barrel, boosting Asian currencies. The yen strengthened to ¥157.91 per dollar.
Toyota and Honda shares rose over 5 per cent on hopes Trump’s tariffs on Canada might be reduced. Sony and Nintendo surged on expectations that restrained AI investment could lower memory chip prices.
Source: Financial Times Companies · Summarized by HeadlinesBriefing