US midterm election results favor Democrats, Asian tech stocks decline

Odaily News: In early trading on Wednesday, Asian tech stocks broadly declined. Preliminary US midterm election results show Democrats performing strongly, further reinforcing market bets on a sweeping Democratic victory. Investors worry this could slow AI investment flowing into Asia's tech-intensive markets.

Chris Weston, Head of Research at Pepperstone, said: "The final margin of a Democratic victory, or an unexpected Republican win of the Senate, could both trigger large-scale position adjustments in the market." US futures linked to the Nasdaq index fell further, dropping about 1.5% on the Chicago Mercantile Exchange (CME).