Asian tech stocks suffered a broad selloff on Nov 6, with Japan's Nikkei 225 falling below the 60,000-point mark for the first time since May and South Korea's Kospi also dropping below 5,000 points. Traders described the day's decline in Asia-Pacific tech shares as "complete carnage," according to the Financial Times.
The numbers: two benchmarks break key levels
| Index | Key level | Status |
|---|---|---|
| Nikkei 225 | 60,000 points | Fell below for first time since May |
| Kospi | 5,000 points | Fell below the same day |
Both indexes are weighted heavily toward tech stocks, and the decline reflects concentrated selling pressure on Asia-Pacific tech shares. As of publication, detailed figures on the size of the drops and individual stock performance had not been disclosed in the source material.
Analysis: US AI pullback and political uncertainty spill over
The Asia-Pacific decline is closely tied to the previous trading session in the US. According to Reuters, Nasdaq market value shrank by $2.5 trillion, AI data-center stocks pulled back, and a shift in US politics (a "blue tsunami") raised concerns that AI infrastructure expansion plans could be held up. Investor doubts about AI valuations spread from the US market to Asia-Pacific, producing a cross-regional, correlated selloff.
"Complete carnage" as Nikkei 225 falls below 60,000 points for first time since May with Seoul's Kospi under 5,000 points.
— Financial Times, citing market traders
What's next: AI valuation worries and policy risk
Markets are focused on two questions: whether the high valuations of AI-related stocks face a sustained correction, and what impact US political changes will actually have on plans to expand investment in AI data centers and other infrastructure. As a key link in the global AI supply chain, Asia-Pacific tech stocks will depend on how quickly US sentiment recovers and how clearly policy direction emerges.