Asian Markets Rebound as Wall Street Recovers From Tech Sell-Off

OPA WIRE, Nov 9 (OPA) — Asian stock markets staged a strong rebound on Monday, recovering from a severe regional tech rout that followed the Democratic Party's sweeping victory in the US midterm elections. Key financial indexes in Japan, South Korea, Taiwan, and Hong Kong posted substantial gains, tracking a late-week recovery on Wall Street.

In Tokyo, the benchmark Nikkei 225 climbed 3.45 percent by 04:00 GMT. Taipei's Taiex surged 5.72 percent, South Korea's Kospi gained 1.68 percent, and Hong Kong's Hang Seng Index rose 0.19 percent. Futures for Wall Street's S&P 500 and the tech-heavy Nasdaq 100 also moved upward, gaining 0.60 percent and 0.59 percent, respectively.

The global market volatility began after US chipmaker Nvidia announced an independent inquiry into CEO Jensen Huang regarding a romantic relationship with a woman accused of being a Chinese spy. Nvidia's board stated it has confidence in Huang and no indication that national security or company secrets were compromised, noting that Huang fully supports the investigation.

The broader market turmoil was intensified by US midterm election results that triggered a $2.5 trillion sell-off on Wall Street. Investors grew concerned that Democratic-controlled legislatures could delay the expansion of data centers required for artificial intelligence infrastructure, spilling over into heavy losses across Asian markets on Friday.