On Friday morning (7 November, 9:08 AM, GMT+7, Bangkok time), major indices in Asia Pacific mirrored losses on Wall Street as persistent worries over the high valuations of artificial intelligence stocks continued to pressure global markets. Shares of leading U.S. AI firms experienced notable declines, with Nvidia, Microsoft, Palantir Technologies, Broadcom, and Advanced Micro Devices among the hardest hit.
Meanwhile, investors in the region are monitoring China’s upcoming October trade figures, slated for release later today. According to a Reuters survey of economists, Chinese exports are anticipated to have slowed to a 3% year-on-year increase, compared to September’s 8.3% jump. Imports are projected to have dropped to 3.2%, a slowdown from 7.4% in the previous month.
This outlook reflects the impact of subdued domestic demand, which remains under pressure due to the prolonged housing downturn, rising concerns over job security, and the waning effect of stimulus measures aimed at boosting consumption.
Japan’s NIKKEI slumped by 1.91% to 49,909.91. South Korea’s KOSPI plummeted by 1.31% to 3,973.82, and Australia’s ASX 200 slid by 0.18% to 8,812.60.
As for stocks in China, Shanghai’s SSEC dropped by 0.31% to 3,995.45. Shenzhen’s SZI fell by 0.67% to 13,362.71, and Hong Kong’s HSI decreased by 0.73% to 26,292.04.
The U.S. stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) contracted by 0.84% to 46,912.30. NASDAQ lost 1.90% to 23,053.99, and S&P 500 tumbled by 1.12% to 6,720.32. VIX jumped by 8.27% to 19.50.
As for commodities, oil prices settled lower on Thursday as market participants evaluated the possibility of an oversupply alongside softer demand in the United States. Brent crude contracts finished the session 14 cents lower, or a decline of 0.22%, at $63.38 per barrel. U.S. West Texas Intermediate futures ended down 17 cents, or 0.29%, at $59.43 per barrel.
This morning, Brent crude futures gained 23 cents, or 0.36%, to $63.61 per barrel, and the WTI surged 24 cents, or 0.40%, to $59.67 per barrel.
Meanwhile, gold futures grew by 0.46% to $4,009.30 per Troy ounce.
