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Hong Kong-listed tech stocks rebounded during the session, with Meituan (03690.HK) rising over 3% and Xiaomi Group (01810.HK) rising over 1%, while Tencent Holdings (00700.HK) and Bilibili (09626.HK) narrowed their losses to less than 1%.

Miro Mitev, CEO of SmartWealth Asset Management, stated, "I believe artificial intelligence will remain a structural investment theme and will continue to attract significant capital in the short, medium, and long term. Therefore, I see the current pullback as an opportunity for active investors to reassess their portfolio allocations, rather than a signal to completely exit AI trading." Strategists believe that after Thursday's sell-off, US stocks may regain some investment value on Friday morning. Technical indicators show that relevant stock indices have entered oversold territory.

John Woods, Chief Investment Officer and Head of Investment Solutions for Asia at SJM Holdings, said in an interview that if the current global market sell-off is a correction, it could be one of the earliest anticipated corrections in recent years. He pointed out that given the market's "irrational exuberance," there has been constant media coverage predicting a significant market sell-off. "This sell-off is more driven by positioning factors than fundamental factors. I'm also asking myself if the story of artificial intelligence is over, but it's too early to draw a definitive conclusion." He added that some of the comments made by Democrats regarding suspending or proposing a suspension of the Texas data center project have softened.

According to Iran's Mehr News Agency, Yemen's Deputy Foreign Minister stated that the Saudi regime must learn from the experiences of its masters (referring to the United States, etc.) and cease its aggression against Yemen.

Honda Motor Co., Ltd. will invest 3.3 billion Brazilian reais in Spain between 2026 and 2030.

Hong Kong-listed sports stocks continued their upward trend, with Li Ning (02331.HK) rising over 8%, and Xtep International (01368.HK) and Topsports (06110.HK) rising over 2%.

Hit hard by the overnight plunge in US stocks, South Korean individual investors heavily invested in US stocks (known as "Seochak Ants") suffered a massive single-day loss. It is estimated that their paper losses reached at least 13 trillion won. According to data released on November 6th by SEIBRO, the securities information portal of the Korea Securities Depository and Clearing Corporation (KSD), as of November 4th, the total market value of US stocks held by "Seochak Ants" was US$179.459 billion (approximately 243.53 trillion won). However, with the sharp decline in all three major US stock indices on November 5th (the S&P 500 plummeted 4.36%, and the Dow Jones Industrial Average fell 3.44%), especially the Nasdaq Composite Index, which is dominated by technology stocks, plummeted 5.52%. If this decline is roughly applied to their total holdings, it is equivalent to a single-day loss of US$9.906 billion (approximately 13.44 trillion won). In reality, the losses of South Korean retail investors are far greater than this, as the decline in their heavily invested stocks far exceeded the overall market decline. It is estimated that the four core holdings of "Western-style Ant Group" collectively evaporated nearly 8.7 trillion won in paper wealth in a single day. Among them, Tesla, its "favorite," plummeted 10.77%, losing approximately 3.2 trillion won in a single day; Nvidia fell 9.26%, wiping out about 2 trillion won; the SOXL ETF (3x leveraged semiconductor ETF) plunged 38.71%, losing over 2.7 trillion won; and Micron fell 17.46%, shrinking by over 800 billion won. Hit hard by this plunge, the market speculates that the total valuation of "Western-style Ant Group's" US stock holdings has fallen below the $170 billion mark.

A research report from Commerzbank points out that changes in the state-level political landscape following the US midterm elections may increase uncertainty regarding AI data center construction, electricity costs, and project approvals. The report states that the newly elected Democratic governors of Texas, Georgia, and Ohio have imposed varying degrees of restrictions on data center development, creating new policy risks for local AI infrastructure investment. Commerzbank believes that as AI data centers expand in scale, power supply, construction permits, and local regulations are becoming crucial factors influencing project implementation. If these restrictions tighten, data center projects may face construction delays or site adjustments, further impacting order delivery schedules for Asian semiconductor, memory chip, and electronic component suppliers. The bank also notes that the underlying demand for AI infrastructure remains strong, and changes in state-level regulations are more likely to affect the timing and location of project construction. Future attention should be paid to specific restrictions in each state, the progress of data center approvals, and whether large cloud computing companies adjust their infrastructure investment plans.

Hong Kong-listed AI application stocks opened lower, with Zhipu (02513.HK) down 8.82% and MINIMAX-W (00100.HK) down 7.4%, followed by Pony.ai-W (02026.HK) and Paradigm Intelligence (06682.HK).

The Hang Seng Index (HSI) opened down 392.36 points, or 1.58%, at 24404.62 on Friday, November 6th; the Hang Seng Tech Index opened down 129.07 points, or 3.11%, at 4025.22; the Hang Seng China Enterprises Index opened down 120.38 points, or 1.44%, at 8248.7; and the Hang Seng Red Chip Index opened down 33.55 points, or 0.83%, at 4002.49.

Concerns about AI regulation in the US have spread, causing a sharp drop in US stocks, which had previously hit record highs during the AI ​​investment boom. UBS analysts stated that due to construction halts and other factors, approximately 30% of the new data center capacity expected to be added in the US by 2028 may be short. Delays in data center construction will shrink demand for AI semiconductors, servers, power equipment, cooling systems, and even cloud services. Questions have resurfaced about whether massive AI investments can translate into real returns. Large technology companies are continuously increasing external financing, such as issuing bonds, for data center and semiconductor investments. Coupled with high interest rate pressures, market concerns about the return on investment have intensified. Overnight, the sell-off in US stocks was concentrated in AI semiconductor stocks, with the Philadelphia Semiconductor Index plunging over 12%, marking its largest single-day drop since the early stages of the 2020 pandemic. During the plunge, hedge funds heavily sold off their holdings to reduce risk exposure. Analysts pointed out that investors who were initially buying on dips also began to prioritize cash, further amplifying the selling pressure. "The market is shifting from 'AI promises' to 'AI pricing,'" said Ted Parkhill, CEO of Incline Investment Management. "There's no doubt that AI will change the world in the long run, but that doesn't mean all AI-related stocks are reasonably priced at present." He anticipates that "significant volatility will continue."

At the opening of the morning session, most domestic futures contracts declined, with propylene falling over 5%. Plastics, tin, liquefied petroleum gas (LPG), polypropylene, and polypropylene monthly contracts all fell by over 3%, while plastics monthly contracts and benzene fell by over 2%, and bottled chips fell by nearly 2%. On the upside, low-sulfur fuel oil (LU) rose nearly 4%, apples rose nearly 3%, coking coal, nickel, and rapeseed meal rose over 2%, and container shipping to Europe, coking coal, and red dates rose over 1%.

European stock index futures fell, with Euro Stoxx 50 futures down 0.6% and German DAX futures down 0.55%.

A senior U.S. government official commented on rumors of Defense Secretary Hergasse's potential dismissal, saying, "If anyone wants to hold someone accountable, they should look for a scapegoat. Tonight, the Pentagon and the White House couldn't be clearer—they are fully supporting Hergasse, and that says it all. The idea that he intends to leave or is preparing to resign is pure fantasy and a misinterpretation of the situation. He's not going anywhere. He will continue to focus on his mission, undisturbed by external noise, and will not let pressure dictate his future. The left and those anonymous sources trying to force him out by creating controversy are simply wishful thinking. He has faced far more difficult battles than this, and this current struggle has only just begun. Never bet on Pete losing."

Japanese Prime Minister Sanae Takaichi: The proceeds from the Bank of Japan's accelerated sale of ETFs can be used as a source of funds to repay bonds, helping the government raise funds for public spending aimed at attracting public investment.

Japanese Prime Minister Sanae Takaichi: The proceeds from the Bank of Japan's sale of ETFs are the fruits of Japan's economic growth and should be used to achieve further growth and a virtuous economic cycle.

Huatai-PineBridge Nasdaq ETF: Trading in this fund will be suspended from the opening of the market on November 6, 2026 until 10:30 on the same day.

Japanese Prime Minister Sanae Takaichi: Market fluctuations affect not only Japan but also countries around the world, so we are closely monitoring the situation.

Japanese Prime Minister Sanae Takaichi: We will focus on taking measures to strengthen the economy by boosting sectors where Japan has a competitive advantage.

Japanese Prime Minister Sanae Takaichi: I am aware of the sharp decline in artificial intelligence and chip stocks, and it is difficult to determine whether this is a temporary phenomenon or will continue.