Asian markets tumble amid tech sell-off, AI spending concerns

Asian shares opened the week in the red on Monday, November 2, after technology-led losses on Wall Street. Japan’s Nikkei 225 fell 0.54% and Topix lost 0.74%, while South Korea’s Kospi was down 1.39% at the open and Kosdaq declined 0.81%. Australia’s S&P/ASX 200 slipped 0.24%, Mettis Global reported.

Investors are weighing doubts about artificial intelligence spending alongside Middle East tensions and Tuesday’s US midterm vote. Alphabet and Microsoft provided capital spending forecasts that fell short of expectations, while Amazon kept its full-year investment guidance unchanged, renewing questions about the scale of AI infrastructure spending. The Nasdaq and S&P 500 both ended October lower, while the Dow gained nearly 2% as money moved towards defensive areas such as healthcare.

Attention this week also turns to Apple’s results on Monday and reports from McDonald’s and Qualcomm later in the week. Investors are waiting for Friday’s US jobs report, with economists polled by Dow Jones forecasting 55,000 additional jobs. The mixed market moves and upcoming company and economic updates leave global technology sentiment in focus.