Equities React to US Midterms, Republican Blame Game

Business and finance news from the Asia-Pacific.

Asian stocks were mixed as consumer and financial stocks rose following gains in US equities, while investors rotated away from semiconductor shares. The majority of stocks in the MSCI Asia Pacific Index gained after the S&P 500 Index jumped 1.6% on Wednesday, its biggest advance in three months, and the Nasdaq 100 climbed 0.9%. South Korea's tech-heavy Kospi Index dropped 3.6%, reflecting investor concerns over the future of data-center development and losses in US chip stocks. The equity market rally since the US election signals that investors are willing to look past a potential policy gridlock in Washington after Democrats wrested control of both chambers of the US Congress. The gain in Treasuries on oil's slump and speculation that the so-called blue wave would limit President Donald Trump's ability to add to the deficit is also seen as supporting stocks. We spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.

And - The Republican Party's generational collapse in this week's midterm elections ushered in a wave of finger-pointing largely aimed at the Oval Office, exposing deep fissures within the party and opening the door for 2028 hopefuls to hone their message. Vice President JD Vance, the GOP's presumed frontrunner, on Wednesday distanced himself from both President Donald Trump and the war against Iran. He blamed the party's defeat on the war, the cost of living and US-Israel ties, saying the conflict cost his party the Senate for at least six years. To those who are angry and "want to say, 'I told you so,'" Vance wrote in a lengthy social media post, "you're right, you did tell us so." Bloomberg's Paul Allen and Haidi Stroud-Watts spoke to International Capital Strategies CEO Heidi Crebo-Rediker.

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