Why it matters
- Japan's Nikkei 225 fell 3,643.13 points, or 5.96%, to 57,434.77 on Friday, Nov. 6, and South Korea's Kospi fell 6.02% to 5,059.69, Yahoo Finance data showed.
- The selloff followed Thursday's 5.52% drop in the Nasdaq. Trading Economics said investors feared the Democrats' midterm win could bring tighter rules that slow AI and data center investment.
- Seoul halted trading for 20 minutes after the open under a circuit breaker, Trading Economics said. Taiwan's Taiex fell 4.51% for a seventh straight loss.
Session recap: what happened in this region's trading day, with sources.
Asian stocks plunged on Friday, Nov. 6, as the AI selloff on Wall Street spread to Tokyo, Seoul and Taipei. Japan's Nikkei 225 fell 3,643.13 points, or 5.96%, to 57,434.77, and South Korea's Kospi fell 324.11 points, or 6.02%, to 5,059.69, according to Yahoo Finance data. Taiwan's Taiex dropped 4.51%.
| Market | Friday close | Change vs. Thursday, Nov. 5 |
|---|---|---|
| Nikkei 225 (Japan) | 57,434.77 | −3,643.13 (−5.96%) |
| Kospi (South Korea) | 5,059.69 | −324.11 (−6.02%) |
| Taiex (Taiwan) | 39,701.64 | −1,873.08 (−4.51%) |
| Hang Seng (Hong Kong) | 24,481.86 | −315.12 (−1.27%) |
| Shanghai Composite (China) | 3,649.18 | −40.73 (−1.10%) |
| Shenzhen Component (China) | 11,175.78 | −295.31 (−2.57%) |
| S&P/ASX 200 (Australia) | 9,020.80 | −44.30 (−0.49%) |
| Sensex (India) | 81,028.02 | +1,718.01 (+2.17%) |
| Nifty 50 (India) | 25,030.35 | +493.75 (+2.01%) |
Source: Yahoo Finance chart data.
Why did Asian stocks fall today?
Asian stocks fell because Thursday's AI and chip crash on Wall Street carried over. The Nasdaq fell 5.52% and the S&P 500 4.36% on Thursday, Yahoo Finance data showed. Trading Economics said investors feared the Democrats' midterm election win could bring tighter rules that slow AI infrastructure and data center investment. Rising oil prices added to the pressure in Seoul and Taipei, it said.
How bad was the selloff in Seoul and Tokyo?
The Kospi's drop triggered a circuit breaker shortly after the open, halting trading for 20 minutes from 9:03 a.m., Trading Economics said. It called it the 10th activation this year. The index closed at a nine-month low, and Finance Minister Lee Hyoung-il pledged steps to curb volatility, Trading Economics said. SK hynix fell 10.44% and Samsung Electronics 6.35%, Yahoo Finance data showed.
In Tokyo, SoftBank Group fell 10.83%, Kioxia 8.72%, Ibiden 8.61%, Tokyo Electron 5.60% and Advantest 4.99%, Yahoo Finance data showed. Trading Economics said the Nikkei fell about 9% this week, its steepest weekly drop since March 2020. It added that strong wage data raised expectations of a Bank of Japan rate hike in December.
How did Taiwan, Hong Kong and Sydney trade?
The Taiex fell to its lowest close since April 30, its seventh straight loss, and dropped 12.2% for the week, Trading Economics said. TSMC fell 4.69%, Hon Hai 4.47% and Delta Electronics 6.64%, Yahoo Finance data showed.
Hong Kong's Hang Seng gave back part of Thursday's 3.67% jump. Trading Economics cited the U.S. tech selloff, profit-taking and reports that Nvidia chips were held in Hong Kong awaiting Beijing's approval. SMIC fell 4.04% and Tencent 2.46%, Yahoo Finance data showed.
Australia's ASX 200 fell 0.49% but still rose 1.3% for the week, Trading Economics said. Macquarie fell 3.69% and Goodman Group 3.20%, while Woolworths rose 1.75%. India bucked the trend, with the Sensex up 2.17%.
Thursday's Asia session is in our Asia Thursday recap, and Wall Street's selloff is in our Americas Thursday recap. Today's European session is in our Europe Friday recap.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Trading Economics, Japan stock market (Nikkei 225)
- Trading Economics, South Korea stock market (Kospi)
- Trading Economics, Taiwan stock market (Taiex)
- Trading Economics, Hong Kong stock market (Hang Seng)
- Trading Economics, Australia stock market (ASX 200)
- Yahoo Finance, chart data for the Nikkei 225, Kospi, Taiex, Hang Seng, Shanghai Composite, Shenzhen Component, S&P/ASX 200, Sensex, Nifty 50, Nasdaq Composite, S&P 500, SK hynix, Samsung Electronics, SoftBank Group, Kioxia, Ibiden, Tokyo Electron, Advantest, TSMC, Hon Hai, Delta Electronics, SMIC, Tencent, Macquarie, Goodman Group and Woolworths