On Monday (9 November, 9:13 AM, GMT+7, Bangkok time), most major indices in the Asia-Pacific increased, tracking the rebound in U.S. stocks Friday, though upside was limited due to heightened scrutiny of Nvidia Leadership.
U.S. shares had recovered part of their recent losses, which were triggered by a broad selloff among AI-linked stocks. However, investor risk appetite remained muted after the release of stronger-than-expected employment figures, reinforcing expectations of a resilient U.S. labor market.
Investors grew cautious after the Democratic Party’s strong showing in the recent midterm elections, amid speculation that new regulations targeting data centers and infrastructure costs could impact the growth trajectory for AI industries.
Attention in the technology sector sharpened after Nvidia’s board announced an internal review of CEO Jensen Huang’s associations following claims from U.S. intelligence linking him to alleged foreign espionage. The development prompted unease among market participants, given Nvidia’s central role in the chip and AI ecosystem.
Looking forward, market participants await several key economic readings. China is due to publish inflation figures on Monday, with consensus forecasts predicting a marginal year-on-year decrease to 0.8%. Later in the week, two significant U.S. economic indicators—the consumer price index on Tuesday and the producer price index on Friday—will be closely analyzed for signals on potential shifts in Federal Reserve policy.
Japan’s NIKKEI jumped by 3.07% to 59,197.53. South Korea’s KOSPI rose by 1.32% to 5,126.25, and Australia’s ASX 200 slid by 0.19% to 9,004.00.
Shanghai’s SSEC advanced by 0.62% to 3,671.75. Shenzhen’s SZI added 0.73% to 11,257.61, and Hong Kong’s HSI surged 0.68% to 24,648.94.
The U.S. stock markets were mixed on Friday as the Dow Jones Industrial Average (DJIA) lost 0.46% to 51,285.73. NASDAQ gained 1.09% to 24,579.42, and the S&P 500 grew by 0.31% to 7,376.86. VIX plunged by 9.01% to 25.64.
As for commodities, oil prices settled higher on Friday as investors responded to heightened concerns about possible additional U.S. military actions against Iran. Brent crude for January delivery closed at $98.32 per barrel, a modest increase of 3 cents, or 0.03%. U.S. West Texas Intermediate ended the session at $90.83 per barrel, advancing 31 cents, or 0.34%.
However, both benchmarks moved lower Monday, following comments from U.S. President Donald Trump, who indicated that further strikes on Iran were improbable as diplomatic efforts to resolve the conflict were progressing. Despite this, both sides reported attacks on vessels either in or close to the Strait of Hormuz. Brent futures declined 79 cents, or 0.80%, to $97.53 per barrel, and WTI futures dropped 32 cents, or 0.35%, to $90.51 per barrel.
Meanwhile, gold futures soared by 1.40% to $4,132.10 per troy ounce.
