Asian equities declined broadly on Monday, November 9, weighed down by technology sector jitters, according to Mettis Global. South Korea’s KOSPI dropped 0.69% and KOSDAQ fell 0.87%, while Australia’s S&P/ASX 200 slipped 0.31%. Japan bucked the regional trend, with the Nikkei 225 rising 1.44% and TOPIX gaining 2.09%, supported by advances in financial and consumer cyclical stocks.
Market caution persisted following last week’s technology-driven decline, though U.S. semiconductor buying helped technology shares recover on Friday. The Nasdaq Composite advanced 1.09% to 24,579.42, the S&P 500 gained 0.31% to 7,376.86, while the Dow fell 0.46% to 51,285.73. Investors are assessing concerns regarding the durability and cost of AI investments, alongside employment data and China’s October inflation figures, which showed consumer prices rising 0.7% year-on-year and producer prices increasing 5.7%. U.S. consumer inflation data is due Tuesday, with producer inflation figures released on Friday.
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