AI shares fall as world markets rise after the U.S. midterms

World shares were mostly higher Thursday, the Associated Press reported, while artificial-intelligence shares were sold. South Korea's Kospi fell 5.3 percent to 5,383.80. Samsung Electronics sank 7.6 percent and memory maker SK Hynix lost 9.4 percent. Tokyo's Nikkei 225 fell 1.8 percent to 61,077.90. SoftBank Group, an OpenAI investor, shed 6.9 percent. Chip-equipment maker Tokyo Electron skidded 9.5 percent and testing-equipment maker Advantest tumbled 15 percent. Taiwan's Taiex lost 3.2 percent.

Markets less tied to the AI trade mostly rose. Hong Kong's Hang Seng jumped 3.7 percent to 24,796.98. The Shanghai Composite edged 0.1 percent higher, to 3,689.91. Australia's S&P/ASX 200 rose 2.6 percent to 9,065.10, and India's Sensex gained 2.8 percent. In early European trading the AP put Germany's DAX up 0.6 percent at 26,598.03, Paris's CAC 40 up 1.2 percent at 8,276.55, and London's FTSE 100 up 1 percent at 10,935.08. Futures for the S&P 500 were nearly unchanged. Dow futures were up 0.4 percent.

On Wednesday, the AP reported, the S&P 500 jumped 1.6 percent, the Dow surged more than 1,500 points and the Nasdaq composite rose 1.4 percent after Republicans lost control of Congress. Ipek Ozkardeskaya of Swissquote said European and Chinese markets were hoping a Democratic Congress would press to undo some tariffs, while the same result could become an obstacle for AI spending. Brent crude, which the AP said plunged 8.7 percent Wednesday to $94.62 a barrel, was up 0.4 percent early Thursday at $95.04. U.S. benchmark crude was down 0.3 percent at $87.86. Wednesday's losers included Trump Media & Technology Group, down 24.5 percent to $4.49, Tesla down 3.3 percent, SpaceX down 3.8 percent, Lockheed Martin down 6.9 percent, Northrop Grumman down 4.5 percent and General Dynamics down 2.6 percent, the AP reported.