Asian equity markets closed Monday’s session, 2 November, divided between gains and losses, as a decline in international crude oil prices and position-building after sharp global equity losses continued to fuel appetite for risk assets.

In Japan, the Nikkei fell 0.33% while the Topix shed 0.88%. In China, Hong Kong’s Hang Seng rose 0.37% and the Shanghai Composite advanced 1.08%. Taiwan’s TWSE lost 0.65%, while South Korea’s Kospi jumped 2.24%. The recovery follows a negative session on Friday (30) on Wall Street, during which the Nasdaq 100 fell 3.5% — its largest intraday decline since June — and the Philadelphia Semiconductor Index retreated 7.2%.

The fall in oil prices helped improve investor sentiment. Brent crude was down nearly 3%, trading above $110 per barrel, after a Bloomberg-cited report indicated that US President Donald Trump intends to allow more time for diplomatic efforts with Iran before potentially resuming strikes, following Tuesday’s US midterm elections.

Stronger investor appetite for technology stocks also lifted Asian benchmarks, according to Chaltan Wang, portfolio manager at HashKey Capital, speaking to the financial newswire. “The central question is whether we are looking at a temporary correction in a technology segment that has become very crowded, or whether we are witnessing the start of a revaluation of all these artificial intelligence-linked investments,” the specialist said, pointing to recent declines in the sector.

In China, equities surged following reports that financial regulators would meet on Monday with banks and brokerages to discuss capital market support measures, signalling a fresh attempt by authorities to arrest the slide.

China’s three main financial regulators — the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission — are set to meet with the country’s major banks to explore ways to optimise credit programmes designed to support share buybacks by listed companies, Chinese media outlet Cailian reported on Sunday.

“The meeting will have a positive short-term impact on the market, but policy signals of this kind cannot, by themselves, alter the underlying economic trajectory,” Shen Meng, director at Beijing-based investment bank Chanson & Co., told Bloomberg. “A sustained improvement in medium- and long-term prospects will require structural reforms and supportive fiscal or industrial policies,” he added.

Chinese equities have been falling since the summer, pressured by economic fragility and doubts over the profitability of AI investments. Last month, financial regulators urged companies and state funds to purchase shares and advised some investors to limit sales. However, the measures fell short of market expectations.

On individual stock moves, Japan’s Kioxia Holdings plunged more than 15% after the memory chipmaker’s cautious outlook reinforced fears that AI-driven growth may be losing momentum.