Hong Kong stocks closed lower, with the Hang Seng Index down 0.13% and the Hang Seng Tech Index down 0.92%; consumer electronics and medical-device sectors led declines.

On the 8th local time Iran’s Islamic Revolutionary Guard Corps (IRGC) navy said a tanker attempting to transit the Strait of Hormuz via an unauthorized route exploded and caught fire. Since the early hours of the day, three tankers have exploded and caught fire, it added. The IRGC navy said Iran’s regulations for the Strait of Hormuz have been repeatedly communicated to all vessels and warned that any ship violating those rules by using unauthorized routes will face the same consequences.

Wall Street sees Democrats' decisive midterm win prompting traders to reassess this year’s steep sell-off in US Treasuries. Tech stocks plunged on the political shift, and markets now price a risk that the AI investment boom—which has supported growth, lifted inflation and pushed yields higher via corporate debt issuance—could slow. A divided government would also likely prevent President Trump from enacting major tax or spending measures, easing some concerns about the US budget deficit. Scott DiMaggio, head of fixed income at AllianceBernstein, said: “AI has been the largest contributor to nominal GDP growth, so any hit to growth could be positive for bonds. The market therefore gains a layer of protection: if the economy falters, rates have substantial downside.”