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

November 09, 2026 (MLN): Asian markets traded mostly lower on Monday, with South Korean shares extending losses following Friday’s sharp sell-off, while Japanese equities bucked the regional trend with notable gains.

South Korea’s benchmark KOSPI declined 0.69%, while the small-cap KOSDAQ dropped 0.87%. Australia’s S&P/ASX 200 also lost 0.31%, reversing its early gains, according to CNBC.

In contrast, Japan’s Nikkei 225 advanced 1.44%, while the broader TOPIX index climbed 2.09%, supported by gains across financial and consumer cyclical stocks.

Market sentiment remained cautious following last week’s technology-led sell-off, although renewed buying in semiconductor shares helped US technology stocks recover during Friday’s session.

On Wall Street, the Nasdaq Composite gained 1.09% to close at 24,579.42, while the S&P 500 advanced 0.31% to 7,376.86. The Dow Jones Industrial Average moved in the opposite direction, shedding 237.33 points, or 0.46%, to settle at 51,285.73.

Investors remained concerned about the sustainability of the artificial intelligence investment boom, particularly amid uncertainty surrounding data centre construction, energy requirements and rising development costs. Stronger-than-expected employment figures also contributed to caution over the economic and monetary policy outlook.

Technology stocks faced additional uncertainty following reports that Nvidia’s board had initiated an investigation into the relationship between its CEO and a businesswoman whom US intelligence agencies reportedly suspect of having links to Chinese intelligence.

Meanwhile, investors are assessing China's latest inflation figures. Consumer prices increased 0.7% year-on-year in October, below market expectations of 0.8% and September's 0.9% reading. Producer prices, however, rose 5.7%, marking their strongest increase in more than four years.

Looking ahead, market participants will monitor upcoming US inflation releases, with consumer price data due Tuesday and producer price figures scheduled for Friday.

Investors will also assess quarterly earnings from major technology-related companies, including CoreWeave, Cisco and Applied Materials, for further indications of corporate spending plans and the outlook for artificial intelligence investment.

In other corporate developments, Take-Two Interactive Software, Occidental Petroleum, KKR, Constellation Energy and Skydance are among the companies scheduled to release quarterly results on Monday.

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