US Midterm Election Results Favor Democrats, Asian Tech Stocks Decline

November 4 — According to Jinshi, Asian tech stocks broadly declined in Wednesday morning trading. Preliminary US midterm election results showed Democrats performing favorably, further strengthening market bets on a sweeping Democratic victory. Investors worry this could slow AI investment flowing into Asia's tech-intensive markets. Chris Weston, head of research at Pepperstone, said: "The final margin of a Democratic victory, or a surprise Republican win of the Senate, could both trigger large-scale position adjustments in the market." US futures linked to the Nasdaq index fell further, dropping about 1.5% on the Chicago Mercantile Exchange (CME). South Korea's KOSPI index rose at the open before turning lower, with weakness in chip stocks dragging on the benchmark.

In addition, as of around 8 p.m. Eastern Time on November 3, early results from the 2026 US midterm elections were gradually being released. About 10 Senate races had been called, with Democrats holding 43 seats and Republicans 32, a net gain of one seat for the Democrats; about 64 House races had been called, with Democrats at 45 seats and Republicans at 19.