Post-Midterm Rotation Hits Chips, Boosts China: Markets Wrap

Post-Midterm Rotation Hits Chips, Boosts China: Markets Wrap

(Bloomberg) -- A stock-rotation trade fueled by the US midterm elections swept Asia, denting regional chipmakers and boosting unfavored markets from China to Australia. Oil extended declines while Treasuries gained.

Blue wave stock rotation sinks Asian chipmakers, boosts autos

Heavyweight memory-chip makers Samsung Electronics Co. and SK Hynix Inc. sank more than 5% each Thursday, pulling down South Korea’s benchmark Kospi more than 3%. Meanwhile, automakers including Toyota Motor Corp. and Honda Motor Co. rose around 5% each.

Midterm Elections Trigger Volatile Shifts Across Asian Stock Markets

The aftermath of the U.S. midterm elections has led to stark divergences in Asian stock markets.Continue Reading:Midterm Elections Trigger Volatile Shifts Across Asian Stock Markets