Early U.S. Midterm Results Favor Democrats as Asian Tech Shares Fall

Asian tech shares fell Wednesday as early U.S. midterm results gave Democrats an advantage, sending Nasdaq-linked futures down about 1.5% and putting the region’s AI investment outlook in focus.

South Korea’s KOSPI fell after opening higher, with weaker chip shares weighing on the index. Investors were concerned a Democratic sweep could slow AI investment flows to Asia’s technology-heavy markets.

The futures decline was recorded on the Chicago Mercantile Exchange (CME), while early election results began arriving around 8 p.m. ET Tuesday, Nov. 3. Democrats were listed at 43 Senate seats to 32 for Republicans, a net gain of one. In the House, Democrats led 45-19 after about 64 races were called; roughly 10 Senate contests had also been decided.

The early returns strengthened market expectations of a Democratic sweep. Pepperstone research head 克里斯·韦斯顿 said a large Democratic win or a surprise Republican Senate victory could prompt major position adjustments. The results remained preliminary as early returns accumulated Tuesday night.