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Silver climbed toward $53 an ounce on Thursday, extending the previous session's gains as Democratic victories in the US midterm elections strengthened hopes for an end to the US-Iran conflict, triggering a sharp decline in oil prices. The precious metal also found support from a weaker US dollar and declining Treasury yields, which enhanced its appeal to investors. President Donald Trump conceded that Republicans lost because of the war and acknowledged gasoline prices as a factor behind the defeat, while indicating that there were no immediate plans to ramp up attacks on Iran. Lower oil prices could ease inflationary pressures, reducing concerns over potential near-term interest rate increases. Investors are now turning their attention to Friday's key US employment report, which could influence expectations for the Federal Reserve's monetary policy. Traders currently see a 79% probability of a Fed rate hike in December, according to the CME FedWatch Tool.

The benchmark KOSPI fell more than 4% to around 5,417 on Thursday, hitting its lowest level in more than a week as concerns over tighter artificial intelligence (AI) regulations following the Democratic Party’s victory in the US midterm elections weighed on investor sentiment. The decline came despite overnight gains on Wall Street, as the Philadelphia Semiconductor Index (SOX) dropped 3.1% to a six-month low amid concerns that a Democrat-led Congress could impose stricter regulations on AI data centers, potentially driving up power grid expansion costs and causing permitting delays. Semiconductor stocks led losses in Seoul, with Samsung Electronics (-5.16%) and SK hynix (-7.09%) among the biggest decliners. LG Energy Solution (-2.11%), Hanwha Aerospace (-5.03%), and Doosan Enerbility (-3.98%) also traded lower.

Sun Life Financial (SLF) released earnings per share at 2.05 CAD, compared to market expectations of 2.03 CAD.

Great West Lifeco (GWO) released earnings per share at 1.48 CAD, compared to market expectations of 1.41 CAD.

Manulife Financial (MFC) released earnings per share at 1.24 CAD, compared to market expectations of 1.17 CAD.

Sony shares increased to 4207.00 JPY, the highest since December 2025. Over the past 4 weeks, Sony gained 12.87%, and in the last 12 months, it decreased 0.99%.

Fast Retailing shares increased to 83070.00 JPY, the highest since July 2026. Over the past 4 weeks, Fast Retailing gained 3.59%, and in the last 12 months, it increased 37.84%.

Toyota Motor shares increased to 3176.00 JPY, the highest since September 2026. Over the past 4 weeks, Toyota Motor gained 9.63%, and in the last 12 months, it increased 4.34%.

US stock futures were little changed on Thursday after major indexes posted strong gains in the previous session, as a Democratic sweep in the midterm elections triggered a sharp decline in oil prices amid hopes of an end to the Middle East conflict. Investors also assessed the latest corporate earnings, with AppLovin jumping more than 20% in after-hours trading following stronger-than-expected quarterly results and positive guidance, while Qualcomm fell over 7% despite reporting better-than-expected earnings. During Wednesday's regular session, the Dow surged 3.03%, adding 1,569 points to reach a two-month high, while the S&P 500 and Nasdaq Composite advanced 1.58% and 1.44%, respectively. Consumer discretionary, financial and real estate shares led the gains, whereas energy and industrial stocks lagged. Market participants now await Thursday's earnings releases from companies including ConocoPhillips, Kimberly-Clark and Airbnb.

Brent crude held below $95 per barrel on Thursday, following a decline of nearly 9% in the previous session that pushed prices to a two-month low. The drop came as a Democratic sweep in the US midterm elections fueled expectations that the Trump administration could face growing pressure to bring the war with Iran to an end. President Donald Trump acknowledged that Republicans suffered losses largely due to the conflict and pointed to rising gasoline prices as a major contributing factor, while indicating no immediate plans to ramp up military strikes against Iran. A Democratic-controlled Congress could limit military funding for operations in the Middle East, with Senate Minority Leader Chuck Schumer vowing to push for an end to the conflict. Meanwhile, crude exports from the Persian Gulf have begun recovering, with supply exceeding near-term demand. Overall, the international oil benchmark has fallen about 16% so far this week.

Silver increased 5% to 52.282 USD/t.oz

The NZX 50 advanced 182 points, or 1.3%, to 13,965 in Thursday morning deals, extending gains from the previous two sessions and hitting its highest level since September 4, tracking a rise on Wall Street overnight after Democrats won back control of Congress. Easing oil prices also lifted sentiment as inflation and interest-rate hike concerns moderated, amid hopes of an Iran peace deal. Traders shrugged off Wednesday's jobs data, despite unemployment unexpectedly rising to an 11-year high of 5.7% in Q3 2026, up from 5.6% in Q2 and defying market expectations for a decline to 5.5%. Almost all sectors traded in the green, including financials, healthcare, and consumer staples. Among early gainers were Infratil (4.7%), Fletcher Building (2.8%), Westpac Banking Corp. (2.4%), Fisher & Paykel (1.9%), Mainfreight (1.5%), ANZ Group (1.5%), Ebos Group (1.0%), and Freightways Group (0.9%).