ASIA MARKET OPEN | KOSPI Rebounds Over 2% as Nikkei Opens Lower and Extends Losses, Hang Seng Slips

According to Kabutan, Korea Herald and HKET, Japan's Nikkei 225 opened at 62,973.16, down 108.70, a third straight decline, as Tokyo reopened after the Nov. 3 Culture Day holiday, while the TOPIX opened at 3,936.72, up 6.44. The Nikkei extended losses after the open, standing at 62,248, down 833, at 10 a.m. Tokyo time, with Advantest dragging the index down by 312.83 points; it later fell below 62,000 for the first time in 12 sessions. Seoul's KOSPI opened at 5,786.13, up 137.34. As of 9:15 a.m. Seoul time, the index was at 5,773, up 124.21 points or 2.2%, led by tech shares, with Samsung Electronics up 1.94%, SK hynix up 3.86% and Hanmi Semiconductor up 4.89%. Investors awaited results from the U.S. midterm elections. The KOSPI fell more than 3% in the previous session. Hong Kong's Hang Seng Index opened 74 points lower at 23,451 on turnover of HK$2.59 billion, while the Hang Seng Tech Index fell 0.5% to 3,848. JD.com and Xiaomi fell more than 1%, Lenovo rebounded more than 1%, WuXi Biologics rose more than 4% and WuXi AppTec gained more than 3%. Taiwan's TAIEX opened at 43,449.45, up 141.91 points or about 0.33%, and TSMC opened at NT$2,320, up NT$25 or about 1.09%. The TAIEX closed the previous session at 43,307.54, down 1,612.60 points or 3.59%. In mainland China, stocks edged higher after the open, with the Shanghai Composite at 3,613, up 5 points or 0.14%, the Shenzhen Component at 10,937, up 60 points or 0.56%, and the ChiNext at 2,407, up 16 points or 0.67%. The People's Bank of China cut the interest rate on its stock repurchase and shareholding-increase relending facility by 25 basis points to 1%, effective immediately.