Daily Summary of Business & Economy · Live edition, updated continuouslyFriday 6 November 2026 · UTC
Latest Business & Economy News Today: 6 November 2026
US tech rout hits Asian markets as HKEX profit slips
US technology shares fell sharply, erasing more than US$2.3 trillion in market value, while Hong Kong, mainland China and Asian chip stocks also fell. HKEX reported its first year on year quarterly profit decline in 10 quarters, with third quarter net profit down 1 percent to HK$4.859 billion.
The exchange said it is navigating heightened macro uncertainty and ongoing volatility, and that its conviction in building a deeper, more diverse multi asset ecosystem has strengthened.
HKEX quarterly profit falls 1% in first year on year drop in 10 quarters
Hong Kong Exchanges and Clearing reported third quarter net profit of HK$4.859 billion, down 1 percent year on year, its first year on year quarterly profit decline in 10 quarters. The result beat analyst estimates of HK$4.7 billion, while total profit for the first three quarters reached a record HK$15.4 billion, up 15 percent. It came amid a slowdown in market turnover, and HKEX shares fell 1.7 percent on Friday morning.
Hong Kong and China stocks fall as US tech rout erases US$2.3 trillion
Hong Kong and mainland China stocks fell on Friday, tracking a U.S. technology rout that erased more than US$2.3 trillion in market value. The Hang Seng Index fell 1.5 percent to 24,458.68, the Hang Seng Tech Index dropped 2.1 percent and the CSI 300 sank 1.8 percent. Investors worried that a Democrat-controlled Congress could upend AI data centre buildouts, as newly elected Texas Governor Gina Hinojosa called for an immediate moratorium.
Wealth managers urge balance in AI infrastructure portfolios
Executives at a private wealth conference in Hong Kong said AI infrastructure offers a defence plus growth opportunity, while warning against overreliance on artificial intelligence. Standard Chartered's Sabina Chiang said constraints around AI are largely physical, including data centres, power and grids. The remarks came hours before the Nasdaq Composite fell more than 5.5 percent and Asian markets plunged.
Asian chip stocks tumble after Nasdaq rout on AI spending worries
Asian technology shares fell sharply on Friday after the Nasdaq Composite sank 5.5 percent and closed more than 10 percent below its recent peak. SK Hynix dropped over 8 percent, Samsung Electronics fell 7 percent, TSMC slid 9.6 percent and SoftBank Group tumbled 11.6 percent. Investors worried that a Democratic midterm victory could tighten U.S. data centre rules and slow demand for AI chips.
Engine makers seek control of rare single crystal turbine blade supply
Aircraft engine makers rely on single crystal turbine blades that are grown from molten metal and can withstand temperatures above 1,500C. Only a handful of companies, including Rolls-Royce, GE and Safran, have perfected the process. GE Aerospace said it would acquire its turbine blade supplier for $11.75bn, while Rolls-Royce said it would invest more than £19m in its Rotherham casting facility.
Levi's says it is bullish on China and plans more stores
US apparel retailer Levi Strauss & Co said it is bullish on China and plans further investment and new store openings. The company said its Asia net revenues rose 10 percent in the third quarter, the third straight quarter of double-digit growth. It attributed progress to localised marketing and product offerings aimed at young Chinese shoppers, even as many foreign brands reduce their presence.
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