Finance Morning: Asian Stocks Rally, KOSPI Jumps 4.39%, Nikkei Reclaims 60,000

📊 Asia Markets Today

1. Nikkei Reclaims 60,000 in Intraday Trading as Tech Shares Lead

Source: Kyodo News

Tokyo's Nikkei stock index extended gains on the morning of November 10, surging more than 1,800 points at one point to reclaim the 60,000 mark, with high-tech shares leading the advance, Kyodo News reported. As of 9:15 a.m., the Nikkei was up 1,841.33 points from the previous close at 60,616.83, while the TOPIX added 77.02 points to 3,895.18.

Overnight on Wall Street, buying was active mainly in artificial intelligence-related shares and major indexes rose together, which in turn lifted AI and semiconductor names in Tokyo. The Nikkei had fallen more than 3,600 points on Friday (November 6), and dip-buying flows expanded further after returning on November 9.

The report said U.S. President Donald Trump's statement that there is no need to restart the war with Iran at this stage also boosted investor confidence. With supply concerns easing, U.S. crude futures fell, weakening inflation worries and pushing stocks higher. The Nikkei 225 closed up 2.87% at 60,459.58.

Source

2. KOSPI Jumps Over 5% Intraday, Exchange Triggers Sidecar Mechanism

Source: 10jqka

Japanese and South Korean stocks opened sharply higher on November 10. South Korea's KOSPI climbed more than 5% intraday, prompting the Korea Exchange to activate the SIDECAR mechanism, suspending program trading buy orders on the KOSPI. SK Hynix opened nearly 7% higher and Samsung Electronics gained nearly 5%. The KOSPI closed up 4.39% at 5,239.13.

According to Xinhua, U.S. crude futures fell significantly after President Donald Trump played down the possibility of a new large-scale military strike on Iran. Overnight on Wall Street, major indexes rallied as lower oil prices eased inflation concerns, with memory chip stocks rebounding: Seagate and Western Digital gained more than 9%, while SanDisk and Micron rose more than 6%.

Japanese stocks also rose quickly the same day, with the Nikkei 225 topping 60,000, up 2.36% intraday. Separately, according to a summary of BOJ opinions, one board member said Japan is entering a new phase and the central bank needs to speed up rate hikes toward a neutral level for the economy.

Source

3. A-Shares Close Higher, ChiNext Up 1.46%

Source: JRJ

A-share market sentiment continued to recover on November 10, with the three main indexes closing higher. The Shanghai Composite rose 0.08%, the Shenzhen Component gained 0.86% and ChiNext added 1.46%, while the Beijing Stock Exchange 50 rose 0.75% and the STAR 50 gained 0.64%. Combined turnover on the Shanghai and Shenzhen bourses reached 1.49 trillion yuan, up 22.2 billion yuan from the previous session, with more than 4,200 stocks advancing and 95 hitting the daily limit.

Film and cinema, gaming, consumer electronics, optical optoelectronics and cultural media led gains, while oil and gas exploration, coal mining, port shipping and insurance lagged. Solar concept stocks moved higher in the afternoon, with JA Solar Technology touching the daily limit; since October, overseas orders from leading Chinese solar firms have landed in clusters, with six companies — JinkoSolar, Aiko, Trina, LONGi, Tongwei and Weixin — signing a combined total of more than 7GW.

On the institutional side, Huachuang Securities chief strategist Yao Pei said the ChiNext and STAR boards still have 20% to 30% of recovery room, and CITIC Securities said ChiNext valuations have returned to the lows seen in previous Fed hiking cycles, so A-share tech could see significant recovery elasticity once 2027 rate-hike expectations reverse.

Source

4. Hong Kong Stocks Rise, Hang Seng Tech Up 1.08%

Source: 21st Century Business Herald

Hong Kong's three main indexes closed higher on November 10. The Hang Seng Index rose 0.44% to 24,557.04, the Hang Seng China Enterprises Index added 0.07% to 8,265.81 and the Hang Seng Tech Index gained 1.08% to 4,084.45.

CXO names led gains, with Frontage Holdings up 42.62%, GenScript Biotech up 7.98% and Joinn Laboratories up 2.54%. Optical communication stocks were strong: Nazhen Technology rose 12.33%, Zhongji Innolight 8.99% and Ju Hui Technology 8.81%. Mobile payment names stayed active, with Global Link Communications up 30.95% and PAX Global 4.7%, while in PCB, Guanghe Technology rose 9.09% and Kinwong Electronic 7.51%.

Baby and child-related stocks weakened, with Wai Fat International down 19.8% and China Construction Rich down 13.51%. Internet names were mixed: Sunny Optical gained 5.79% and iDreamSky 5.36%, while BOSS Zhipin-W fell 3.01% and Alibaba-W dropped 2.87%.

Source

5. Taiwan Stocks Add 1,050 Points, TSMC Closes at NT$2,285

Source: Economic Daily News

Taiwan stocks rebounded on November 10, opening higher and breaking through 43,000 intraday to a high of 43,135.92, a surge of 1,474 points, before gains narrowed. The TAIEX closed at 42,711.92, up 1,050.22 points or 2.52%, reclaiming its five-day moving average of 41,719, with turnover of NT$1.003 trillion.

Heavyweight electronics were strong. TSMC closed at its session high of NT$2,285, up 2.24%, after a final block of 5,358 lots; MediaTek closed at NT$3,830, up 2.82%; and Delta Electronics closed limit-up at NT$1,275.

Source

6. October Prices: CPI-PPI Gap Widens to 5 Percentage Points

Source: CCTV

China's National Bureau of Statistics released October price data on November 9: the consumer price index rose 0.7% year on year, 0.2 percentage points slower than the previous month, while core CPI rose 0.8%. The producer price index rose 5.7%, 0.7 percentage points faster than in September. The gap between the two reached 5 percentage points, widening further; in September, PPI rose 5.0% and CPI 0.9%, a gap of 4.1 percentage points.

Dong Lijuan, chief statistician at the NBS urban survey department, said rising international energy prices lifted domestic oil and gas extraction and coal mining prices by 6.0% and 2.7% respectively, while downstream refined petroleum, organic chemical materials, coal processing and gas production rose 6.8%, 6.8%, 3.2% and 1.5%. Together these six industries contributed about 0.61 percentage points to the month-on-month PPI gain, more than 80% of the total increase.

By category, data storage equipment, tablets, computers and mobile phones rose 45.4%, 29.3%, 23.0% and 16.7% respectively, together adding about 0.26 percentage points to CPI. Auto manufacturing prices were flat after three straight monthly declines, while gold jewellery prices fell 5.9% month on month, a wider drop of 3.8 percentage points. Zhang Lin, deputy director of Far East Credit Rating Research Institute, summed up the three as "storage is an industrial price, autos a competitive price, and gold a financial price."

Source

7. PBOC Conducts 182 Billion Yuan Overnight Reverse Repo, Net Drain of 44 Billion

Source: Ifeng Shenzhen

The People's Bank of China said in a November 9 statement that it conducted 182 billion yuan of overnight reverse repurchase operations via fixed-rate, quantity-based tenders, fully meeting primary dealers' demand. With 226 billion yuan of overnight reverse repos maturing, the operation resulted in a net drain of 44 billion yuan that day.

The General Administration of Customs reported the same day that China's goods trade totaled 44.81 trillion yuan in the first 10 months of 2026, up 20% year on year. Exports of mechanical and electrical products reached 16.81 trillion yuan, up 25.2%, while imports of such products rose 35% to 8.17 trillion yuan; crude oil imports fell 15.1% to 400 million tonnes.

Abroad, CME's FedWatch showed a 15.8% probability that the Fed holds rates steady in December and an 84.2% probability of a 25-basis-point hike. In Treasuries, safe-haven flows accelerated last week, pushing two-year yields down more than 12 basis points to as low as 4.46%, while 10-year yields have fallen more than 50 basis points over the past month.

Source

8. Oil Prices Slide, Brent Breaks Below $90

Source: 21st Century Business Herald

International oil prices fell sharply during Asian trading on November 10, with losses widening to 3%: Brent crude broke below $90 a barrel and New York crude fell below $85, the lowest since late August. By 16:56 Beijing time, the declines had narrowed to 2.77% and 2.64% respectively.

Gold and silver also slipped, with spot gold down 0.58% and spot silver down 1.18% at the time of reporting. According to CCTV, a new round of trilateral talks between Russia, the United States and Ukraine began on November 10 in Abu Dhabi, the capital of the United Arab Emirates.

At 21:30 Beijing time, the U.S. Bureau of Labor Statistics was due to publish October CPI. According to Cailianshe, robust growth and a solid labour market have made inflation the market's focus ahead of the Fed's December meeting, and CME FedWatch showed traders pricing more than an 80% chance of a 25-basis-point hike in December.

Source

9. U.S. Midterms: Democrats Retake Both Chambers

Source: Southern Finance

According to 21st Century Business Herald, Democrats retook both the Senate and the House in the U.S. midterm elections, ending Republican control of both chambers; the new Congress takes office in January. The report said that compared with his sweeping presidential election win, Trump suffered a setback this time and Republican economic measures may face adjustment.

The report said that with Republicans losing Congress, Democrats may move to constrain past increases in the debt ceiling and expanded AI capital spending, and may act on issues including Medicare subsidies, tax policy, energy costs and AI infrastructure regulation. For Treasuries, it will be much harder for Trump to expand fiscal spending and cut taxes in the second half of his term, easing inflation pressure and, in the near term, supporting lower long-dated yields.

On AI regulation, the report noted that some Democratic candidates not only oppose expanding AI investment but advocate pausing data centre construction. On the dollar and gold, the market widely expects U.S. borrowing needs to decline, so the dollar's recent excessive strength may change and gold has room to rebound. The report also cautioned that the new Congress does not take office until early January, and Republicans still control Congress during the transition.

Source

10. Nvidia CEO Scandal Deepens; Market Value Drops Over $190 Billion in a Day

Source: China.com

U.S. tech stocks closed broadly higher on November 10, but Nvidia fell against the trend. The stock dropped as much as 8.8% early on before paring losses to 4.27%, closing at $178.67 with a market value of $4.31 trillion, a seven-month closing low. More than $190 billion (1.29 trillion yuan) of market value was wiped out overnight.

Nvidia CEO Jensen Huang is embroiled in an extramarital affair scandal, and the company has announced an independent investigation. Huang has withdrawn from two tech events he was scheduled to attend this week. In an earlier letter to employees, he acknowledged the affair and apologised to his family and staff: "I was unfaithful to my wife, and my actions hurt her and our children. There is no excuse for what I did. I am deeply sorry." He said he would take full responsibility, work to regain the trust of his family and employees, and asked for privacy for his family.

Source