<\/p>\n
Asian markets mostly closed lower on Friday, November 7th, the final trading day of the week, influenced by the US market’s closing losses. The US market closed in the red, coinciding with a sell-off in the technology sector following heightened concerns about the valuations of AI-related companies, which weighed on Asian markets.<\/p>\n
On the economic data front, according to customs figures released this morning, Chinese exports fell by 1.1% in October, compared to an 8.3% increase in September. This was below expectations of 3% growth, marking the first decline in exports from the world’s second-largest economy in nearly two years. This follows a 25% drop in exports to the United States. Meanwhile, imports rose by 1%, after a 7.4% increase in September, falling short of the expected 3.2% growth.<\/p>\n
The Nikkei index closed at 50,276 points, down 1.19% or 607 points, marking a weekly loss of more than 4%. The Topix index of the Tokyo Stock Exchange also declined today, falling approximately 1.18% to close at 3,285, a drop of about 1% for the week. Kanadevia led the Nikkei’s losses, plummeting by more than 19%.<\/p>\n
AI-related stocks were the biggest losers in the Japanese markets, with SoftBank shares falling 8%, Advanistent shares dropping 7%, Renesas shares declining 4%, and Tokyo Electron shares losing 2.17%.<\/p>\n
Chinese indices also declined today. The broader CSI 300 index fell by approximately 0.31% to close at 4,678 points, while the Shanghai Composite index closed down 0.25% at 3,997. Hong Kong’s Hang Seng Index fell by approximately 0.99% today, closing at 26,224 points. Kuaishou Technology led the declines, with losses exceeding 6%.<\/p>\n
South Korea’s Kospi Index also declined, dropping by about 1.81% to close at 3,953 points.<\/p>\n
India’s Sensex Index dipped by approximately 0.12% before closing at 82,213, while the Nifty50 Index fell by about 0.07% to trade at 25,491 points.<\/p>\n
New Zealand’s stock markets closed higher, with the NZX50 index rising by approximately 0.16% to close at 13,599. Australia’s ASX200 Index fell by about 0.66% to close at 8,769 points, and Singapore’s benchmark index declined by 0.20% in pre-closing trading.<\/p>\n
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Asian markets mostly closed lower on Friday, November 7th, the final trading day of the week, influenced by the US market’s closing losses. The US market closed in the red, coinciding with a sell-off in the technology sector following heightened concerns about the valuations of AI-related companies, which weighed on Asian markets. On the economic […]<\/p>\n","protected":false},"author":1,"featured_media":8006,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-8593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-18"],"acf":[],"yoast_head":"\n