Asian markets tumble on renewed AI spending fears

Asian equities fell sharply on Friday, November 6, after steep losses in US trading, as investors grew concerned about AI infrastructure spending and possible limits on data-centre construction, Mettis Global reported. South Korea bore the heaviest regional pressure: the KOSPI dropped more than 8% and moved below 5,000, while the KOSDAQ lost over 7%. Japan’s Nikkei 225 declined more than 2%, and Australia’s S&P/ASX 200 slipped 0.9%.

Technology shares led the retreat across Asia. SK Hynix and Samsung Electronics each fell more than 7%, while Japan’s Advantest sank 12.2% and Taiwan Semiconductor Manufacturing Company lost 9.6%. The previous day, the Nasdaq Composite fell 5.5%, the S&P 500 dropped 4.4%, and the Dow Jones Industrial Average declined 3.4%; US technology companies including Micron and AMD each lost 17%. Investors were also watching for the US October employment report, with expectations for 59,000 new jobs and a 4.2% unemployment rate.