Risk-off sees Asian equities and crypto plunge, then pare
Asia market update: Risk-off sees Asian equities & crypto plunge, then pare; Democrats sweep Gov and NYC Mayoral races.
General trend and developments
– Kospi started today as yesterday, leading Asia (and global equities) down. At its worst off more than -6.0% and back below 4,000 (was over 4,500 earlier in the week). Later pared half those losses. SK Hynix was down as much as -9.0% but pared back to just -1.0% losses.
– Softbank fell -10% as the Nikkei also fell steeply -4.7%, off >7% from early Tuesday’s record high and back below 50K for first time since Oct 27th . Against the trend Nintendo +10% on significant earnings beat and Switch 2 console and software raised outlook.
– In China, Shanghai and Hang Seng opened -1.0% with giant…
