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Nikkei, Kospi Plunge Up To 4.5% Amid US Midterm Election Jitters; Sensex, Nifty Resist Global Decline
Sentiment: NeutralHigh Priority
What Happened?
Asian markets faced a sharp sell-off due to concerns over a potential Democratic victory in the US midterm elections, with Japan's Nikkei and South Korea's Kospi dropping significantly. In contrast, Indian markets showed resilience, buoyed by easing crude oil prices and strong corporate earnings.
Key points
- Japan's Nikkei 225 fell over 4%, while South Korea's Kospi dropped nearly 4%.
- The MSCI Asia Pacific Index declined by 2.3%, led by technology stocks.
- Indian markets remained positive, with Sensex and Nifty trading in positive territory.
- Foreign institutional investors purchased Indian equities worth $821 million in November.
- Brent crude futures declined by 0.6% to around $103 per barrel.
Key insights
- The decline in Asian markets may lead to increased volatility in technology stocks.
- Indian markets' resilience could attract more foreign investment in the coming weeks.
- Easing crude oil prices may provide further support to Indian market stability.
Why it matters
The contrasting performance of Indian markets could indicate resilience amid global uncertainties.
Tags
Entities
Nikkei 225· IndexKospi· IndexSensex· IndexNifty· IndexBrent Crude· CommoditySamsung Electronics· CompanySK Hynix· CompanyKioxia Holdings· CompanyAdvantest· CompanyHDFC Securities· CompanyAxis Direct· Company
Source
Times Now
