Why it matters
- South Korea's Kospi fell 3.59% to 5,648.79 and Taiwan's Taiex fell 3.59% to 43,307.54 on Tuesday, Nov. 3, as worries about heavy AI spending hit chip stocks, Trading Economics said.
- The Reserve Bank of Australia raised its cash rate target by 25 basis points to 4.85% in a 6-3 vote, its statement said. Australia's ASX 200 still rose 0.34%.
- Tokyo's market was closed for Culture Day, the Japan Exchange Group calendar shows. Hong Kong's Hang Seng rose 0.57%, while mainland China's main indexes fell.
Session recap: what happened in this region's trading day, with sources.
Asian chip stocks sold off again on Tuesday, Nov. 3. South Korea's Kospi and Taiwan's Taiex each fell 3.59%, Yahoo Finance data showed, as concerns about heavy spending on AI infrastructure weighed on technology shares after Monday's Nasdaq drop, Trading Economics said. Australia's ASX 200 rose 0.34% even as the Reserve Bank of Australia raised rates, and Tokyo was closed for a holiday.
| Market | Tuesday close | Day |
|---|---|---|
| Kospi (South Korea) | 5,648.79 | −3.59% |
| Taiex (Taiwan) | 43,307.54 | −3.59% |
| Hang Seng (Hong Kong) | 23,525.97 | +0.57% |
| Shanghai Composite (China) | 3,608.10 | −0.82% |
| Shenzhen Component (China) | 10,876.99 | −1.21% |
| S&P/ASX 200 (Australia) | 8,886.80 | +0.34% |
| Sensex (India) | 76,917.85 | +1.62% |
| Nifty 50 (India) | 23,810.85 | +1.58% |
| Nikkei 225 (Japan) | Closed | Culture Day |
Source: Yahoo Finance daily chart data; changes are from Monday, Nov. 2, closes. Japan Exchange Group for the Tokyo holiday.
Why did Asian stocks fall today?
Chipmakers led the drop. Investors worried about heavy AI spending and the returns on it after the Nasdaq Composite fell 1.07% on Monday, Trading Economics said. In Seoul, SK hynix fell 5.03% and Samsung Electronics 4.15%, Yahoo Finance data showed. Trading Economics also pointed to South Korean inflation of 2.8% in October, which kept alive talk of a Bank of Korea rate hike.
In Taipei, MediaTek fell 7.43% and TSMC 1.50%, Yahoo Finance data showed. It was the Taiex's fourth straight loss and its lowest close since July 30, Trading Economics said.
What did the RBA decide?
The Reserve Bank of Australia raised its cash rate target by 25 basis points to 4.85% on Tuesday, Nov. 3, its Monetary Policy Board said. Six members voted for the hike and three wanted to hold at 4.60%. The board said inflation is not expected to reach the top of its 2-3% target range until late 2027, about three quarters later than previously forecast, partly because of higher fuel prices tied to the Middle East conflict.
The ASX 200 rose 30.3 points anyway, led by retail, tech and consumer shares, Trading Economics said. Qantas gained 6.36% and REA Group 3.77%, while Woodside Energy fell 3.53%, Yahoo Finance data showed.
How did China, Hong Kong and India trade?
The Shanghai Composite fell 0.82% and the Shenzhen Component 1.21%. Trading Economics said renewed support measures from the central bank, including a lower relending rate, did not lift sentiment. AI-linked shares fell hardest: Cambricon Technologies dropped 10.81%, Yahoo Finance data showed.
The Hang Seng rose 0.57%, helped by consumer and tech services stocks and China's support steps, Trading Economics said. Trip.com gained 6.34% and Xiaomi 1.78%, Yahoo Finance data showed. India's Sensex rose 1.62% to 76,917.85, a second straight gain.
What comes next?
Europe's session is in our Europe Tuesday recap, and U.S. futures, the midterm elections and today's data are in our day-ahead guide. Monday's session is in our Asia Monday recap, and live levels are on the markets page.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Reserve Bank of Australia, Statement by the Monetary Policy Board: Monetary Policy Decision (Nov. 3, 2026)
- Japan Exchange Group, market holidays calendar
- Trading Economics, South Korea stock market (Kospi)
- Trading Economics, Taiwan stock market (Taiex)
- Trading Economics, China stock market
- Trading Economics, Hong Kong stock market (Hang Seng)
- Trading Economics, Australia stock market (ASX 200)
- Yahoo Finance, chart data for the Kospi, Taiex, Hang Seng, Shanghai Composite, Shenzhen Component, S&P/ASX 200, Sensex, Nifty 50, SK hynix, Samsung Electronics, MediaTek, TSMC, Qantas, REA Group, Woodside Energy, Cambricon, Trip.com and Xiaomi