Asian AI-Led Stocks Hit as Strong Democratic Midterm Showing Fuels Regulatory Fears
Tiger Newspress11-04 11:38
Asian equities slid after a strong Democratic showing in the US midterms raised investor fears of tighter AI regulation. Korea's KOSPI fell as much as 3.7%, erasing earlier gains; Samsung Electronics dropped over 4% and SK Hynix nearly 6%, the biggest drags on the index. Japan's Nikkei 225 fell about 4% intraday.
Market participants said stronger Democratic performance could be negative for high-growth tech and AI firms and may hinder US data-center expansion, clouding demand prospects for Korean, Taiwanese and Japanese chipmakers and hardware suppliers integral to US AI infrastructure.
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