Asian markets retreat on tech sell-off concerns, Japan rallies

Asian equities were mostly weaker on Monday, November 09, as concern over technology shares weighed on sentiment, Mettis Global reported. South Korea’s KOSPI fell 0.69% and KOSDAQ lost 0.87%, while Australia’s S&P/ASX 200 slipped 0.31%. Japan moved against the regional trend: the Nikkei 225 rose 1.44% and TOPIX gained 2.09%, with financial and consumer cyclical stocks supporting the advance.

The regional caution followed last week’s technology-led decline, although US semiconductor buying helped technology shares recover on Friday. The Nasdaq Composite rose 1.09% to 24,579.42 and the S&P 500 added 0.31% to 7,376.86, while the Dow fell 0.46% to 51,285.73. Investors are weighing concerns about the durability and cost of AI investment, alongside employment data and China’s October inflation figures: consumer prices rose 0.7% year-on-year and producer prices increased 5.7%. US consumer inflation is due Tuesday and producer inflation on Friday.