Asian tech stocks decline as U.S. midterm election results lean towards Democrats.

November 4th, Wednesday morning trading saw Asian tech stocks broadly decline. Initial results from the U.S. midterm elections indicate a stronger-than-expected performance by the Democratic Party, reinforcing market bets on a comprehensive Democratic victory. Investors are concerned this might slow the flow of artificial intelligence investments into Asia's tech-intensive markets. Chris Weston, head of research at Pepperstone, said: "The final margin of a Democratic win, or an unexpected Republican Senate victory, could trigger significant portfolio adjustments in the markets." U.S. futures linked to the Nasdaq index fell further, dropping about 1.5% on the Chicago Mercantile Exchange (CME). South Korea's KOSPI index opened higher but then retreated, with weakness in chip stocks dragging down the broader market.