Asian stocks saw a sharp rotation on Thursday, with chipmakers falling as investors worried about the AI buildout, while automakers and some consumer companies gained. The move followed a Democratic sweep of Congress, according to the report.
Samsung Electronics and SK Hynix each dropped more than 5%, pulling South Korea’s Kospi down by over 3%.
In Japan, Toyota Motor and Honda rose around 5% apiece, helping the Topix advance 1.4%. Chinese internet stocks also rallied, supporting a 5% gain in the Hang Seng Tech Index.
Sources: Bloomberg Markets.