Asian equities rise as tech stocks wobble and oil falls over 3%
Japan, South Korea and Hong Kong saw modest gains, but SoftBank and Kioxia led declines amid AI‑related concerns.
By Felo News Desk · Published
Asian equity markets mostly rose on Monday, Nov 2, 2026, while technology‑related shares stayed volatile and oil prices slipped more than 3%, according to the Associated Press and the Independent.
What happened
Japan’s Nikkei 225 edged down 0.1% to 63,218.02 after early gains, while South Korea’s Kospi climbed 2.3% to 5,859.83. Hong Kong’s Hang Seng added 0.6% to 23,437.41 and the Shanghai Composite rose 1.2% to 3,640.93. In the United States, futures edged higher after Wall Street posted its worst day since June, driven by a sell‑off in technology and artificial‑intelligence stocks.
What the reports add
Both outlets noted that SoftBank Group, an investor in OpenAI, fell 1.8% and that memory‑chip maker Kioxia Holdings dropped roughly 14% after disappointing earnings forecasts. The Independent also recorded that Samsung Electronics rose 1.7% and SK Hynix jumped 4.2%, while Taiwan’s Taiex slipped 0.2% as TSMC fell 1.5%.
Oil prices fell more than 3% early Monday, with Brent crude down 3.3% to $109.66 a barrel and U.S. crude also down 3.3% to $100.64 a barrel.
The Independent reported currency moves early Monday: the U.S. dollar rose to 157.91 Japanese yen from 157.49 yen, and the euro traded at $1.1172, up from $1.1160.
What was said
"Iranian negotiators were in Qatar for talks on a proposal that could reopen the Strait of Hormuz within two days if the U.S. meets several conditions," the Iranian top diplomat said in a Telegram interview, adding that no direct talks were being held with the United States.
Both sources said analysts are worried the rapid build‑up of AI could prove to be a bubble, keeping technology stocks volatile.
How it came about
The moves follow a series of mixed Asian‑market sessions earlier in the month, including a dip on Oct 23 when AI‑related stocks fell and oil prices rose, and a rebound on Oct 19 after President Trump waived new Russian sanctions, as covered in Felo’s Oct 19 report. The recent decline in oil prices contrasts with earlier weeks when Brent crude was above $100 per barrel.
Key facts
- Asian equity markets mostly rose on Nov 2, 2026 (winnipegfreepress.com)
- Nikkei 225 slipped 0.1% to 63,218.02 (winnipegfreepress.com)
- Kospi gained 2.3% to 5,859.83 (independent.co.uk)
- Oil prices fell more than 3% on the day (independent.co.uk)
- SoftBank Group shares dropped 1.8% (winnipegfreepress.com)
- Kioxia Holdings fell about 14% after earnings forecast miss (winnipegfreepress.com)
