US Democrats sweep Congress, Japanese and South Korean stock ma

Democratic victories in the U.S. midterm elections triggered a sharp intraday reversal in Japanese and Korean equities on November 4, 2026, with both markets initially plunging 4% at the open before recovering. The Nikkei 225 closed down 893.23 points, or 1.42%, at 62,188.63, while South Korea's KOSPI reversed into positive territory to finish up 34.88 points, or 0.62%, at 5,683.67. Chip heavyweights remained under pressure even as the broader indices rebounded: SK Hynix ended down 0.14% after falling as much as 6% intraday, and Samsung Electronics closed 0.68% lower. The V-shaped session underscores how sensitive Asian export and semiconductor names are to U.S. political outcomes and the policy direction they imply. Traders will watch whether the rebound holds in the next session and whether chip stocks, which lagged the index recovery, can stabilize.