Asian Stocks Rise as Oil Falls and Chipmakers Rebound; KOSPI Jumps 4.31%
Asian stocks climbed on Tuesday, November 10, 2026, as a tech rebound on Wall Street and falling oil prices lifted chipmakers. South Korea's KOSPI jumped 4.31% and Japan's Nikkei 225 gained 2.8%, while investors waited for US inflation data.
Asian stocks climbed on Tuesday, November 10, 2026, as oil prices fell again and chipmakers bounced back after Wall Street's biggest rally in about seven months. The MSCI Asia Pacific index rose around 2%.
South Korea's KOSPI jumped 4.31% to 5,235.14. Japan's Nikkei 225 gained 2.8% to 60,398, and the broader TOPIX advanced 2.2%. Taiwan's Taiex surged as much as 6.4%.
Wall Street rebound
The S&P 500 rose 2.4% on Monday, its biggest daily gain since April. The Nasdaq Composite added 2.7% and the Nasdaq 100 gained 3.4%. The Philadelphia Semiconductor Index surged nearly 7%.
Investors bought chip stocks after last week's rout. Part of that selloff was driven by fears that Democratic gains in the US midterm elections could bring tighter regulation of the AI industry.
In Asian trade, Nasdaq 100 futures slipped 0.1% and S&P 500 futures rose 0.2%.
Oil retreats
Brent crude traded at $91.56, down 1%, after a nearly 6% slide on Monday to an early-September low. US President Donald Trump said further strikes on Iran were unlikely if nuclear talks progressed, after he met Qatar's prime minister.
Lower oil eased worries about inflation and supported sentiment. Caution remained, though, ahead of the US inflation report.
Taiwan steps in
Taiwan's seven-session slide, its longest since 2022, reversed after regulators acted. They cut short-selling limits to 3% of 30-day average volume from 30%. They also raised margin requirements to 130% from 90% and kept a NT$500 billion ($15.2 billion) stabilization fund available.
Japan and Taiwan entered bear markets last week. Korea's index was more than 40% below its summer peak, and Taiwan's was 16% below its record. Samsung and SK Hynix had each lost more than 16%.
Nvidia and Anthropic
Nvidia fell 4.2% amid a board probe into possible foreign targeting of CEO Jensen Huang. Reports alleged links to a Chinese businesswoman suspected of passing information to Beijing. The board said it saw no evidence of compromised company secrets.
Nvidia reports earnings next week. Anthropic launched Fable 5.2 and Mythos 5.2 ahead of a possible Tuesday IPO roadshow, seeking up to $69.3 billion. That IPO and CoreWeave's results will test investor appetite for AI after hedge funds cut technology exposure quickly.
Data from China, Japan and the US
October US consumer price data is due Tuesday. Forecasts call for headline prices to rise 0.3% and core prices 0.2%. Odds of a Federal Reserve rate hike climbed to 84% from 74% a week earlier after strong jobs data.
China's October exports rose 35.2%, beating the 33.5% forecast but easing from 36.3% in September. Imports jumped 41.6%, above the 32% estimate. The trade surplus topped $1 trillion for a second year, supported by AI shipments.
Japan's household spending fell 6.8% year-on-year in September, against a forecast 3.1% decline. It was the steepest drop since 2020. Markets expect the Bank of Japan to raise rates from 1.25% on December 18.
The NZX 50 gained 1%, the ASX 200 rose 1.1% and Singapore's STI gained 1.6%. In New Zealand, National won 42 seats against Labour's 36. About 400,000 special votes remain to be counted, with final results due November 27.
