Updated: Saturday, 31 October 2026 at 7:26 AM IST
Curated by the Team of Boldvoices
Update — 31 October 2026, 7:26 AM IST: After the earlier Asian-market snapshot, US cash markets closed sharply lower on Friday, 30 October. The S&P 500 fell 1.8% to 7,580.07, the Nasdaq Composite dropped 2.9% to 25,437.00 and the Dow Jones Industrial Average declined 1.1% to 51,770.31. Intel fell nearly 29% after its profit outlook missed expectations, while concerns about AI valuations and corporate AI spending weighed on technology shares. The US close occurred at 4:00 p.m. Eastern Time on 30 October (1:30 a.m. IST on 31 October). These are final US closing figures; the Asian figures elsewhere in this report are earlier Friday snapshots, not closing prices.
Asian Markets Mixed as AI Concerns Grow After Historic Alphabet Stock Slump
Asian stock markets moved in different directions on Friday as investor concerns about artificial intelligence-related companies intensified following a sharp fall in Alphabet shares on Wall Street.
Japan’s Nikkei 225 declined 2.6%, while South Korea’s Kospi dropped 5.4% during morning trading. In contrast, Australia’s S&P/ASX 200 gained 0.5% and Hong Kong’s Hang Seng advanced 1.2%.
The mixed performance reflected changing investor sentiment towards technology companies, semiconductor manufacturers and the large investments being made in artificial intelligence.
Alphabet’s sharp decline weighs on US markets
Alphabet Class A shares fell 12.6% on Thursday, marking their worst trading day since the shares began trading more than two decades ago.
The company is among the largest constituents of major US stock indices. Its decline therefore contributed to pressure on the broader technology-heavy market.
The Nasdaq Composite fell 1.4%, while the S&P 500 lost 0.3%, ending a three-session winning run. The Dow Jones Industrial Average also declined 132.54 points, or 0.3%.
Despite the index declines, most individual stocks in the S&P 500 advanced.
South Korea faces pressure from technology stocks
South Korea recorded one of the steepest declines among major Asian markets.
The Kospi fell 5.4% as shares of semiconductor companies SK Hynix and Samsung Electronics moved lower.
These companies are closely connected to the global memory-chip and artificial intelligence supply chain. Investor expectations around AI-related demand, chip supply and future technology spending can therefore influence their share prices.
The decline highlights how changes in sentiment towards the AI industry can affect markets well beyond the United States.
Japan’s market falls ahead of Bank of Japan decision
Japan’s Nikkei 225 declined 2.6% to 62,960.60.
Update — 30 October 2026, 3:53 PM IST: The Nikkei decline cited above was recorded during Friday morning trading, before the Bank of Japan published its statement at 12:02 JST. The BOJ later held its policy rate at 1.25% in an 8–1 vote; board member Hajime Takata proposed 1.50%. The Policy Board also unanimously raised the annual ETF disposal pace from about ¥330 billion to about ¥860 billion on a book-value basis, effective January 2027. These decisions came after the morning market snapshot; the index level quoted above is not a post-announcement or live price.
Currency movements also remained in focus. The US dollar traded at 157.50 yen, compared with 157.65 yen previously.
The yen’s weakness has attracted attention from US policymakers, who have been pressing Japan to address the currency situation.
Other Asian markets show a different trend
The broader regional picture was not uniformly negative.
Australia’s S&P/ASX 200 rose 0.5% to 8,937.60, while Hong Kong’s Hang Seng gained 1.2% to 23,225.69.
China’s Shanghai Composite declined 0.9% to 3,618.14.
The divergence suggests that investors were responding to different domestic and sector-specific factors rather than following a single direction across the region.
Oil prices and bond yields remain in focus
Energy markets also recorded gains.
US crude rose 2.80% to $104.86 per barrel, while Brent crude increased 2.54% to $117.80.
Meanwhile, the yield on the US 10-year Treasury note declined to 4.94% from 5.05% late Wednesday.
Higher oil prices can add to inflation concerns, while movements in government bond yields influence borrowing costs and equity valuations.
What investors will watch next
Investors are likely to monitor technology-company earnings, semiconductor demand, AI infrastructure spending and central bank decisions for further direction.
The latest session also illustrates the sensitivity of global markets to movements in a small number of influential technology stocks.
For Asian markets, the next major question is whether the decline in AI-linked shares represents a temporary adjustment in valuations or a broader reassessment of expectations around the sector.
Market figures in this report reflect Friday morning trading in Asia and Thursday’s US session. They are not live prices.
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For a closer look at the company’s earnings, AI investment plans and pressure on its core search business, read our report on Alphabet’s Q3 results and AI spending.
