At the Hong Kong open the Hang Seng Index fell 0.32% and the Hang Seng Tech Index fell 0.50%. Innovative drug-related stocks opened higher: BeiGene (06160.HK) +2.09% at the open, WuXi AppTec (02359.HK) +1.70%.

U.S. media projected on Nov. 3 that Democrats would score a large midterm win and retake control of both chambers. Republican House Speaker Johnson said that over the past 90 years the incumbent president’s party has only twice added or held seats within the first two years of a term, and "the historical pattern seems set to continue tonight." He warned Democrats turning the next two years into "revenge, legal battles and partisan infighting" would harm Americans, and said House Republicans would act as a "firewall" to prevent that.

Most-active crude-related futures extended intraday losses: SC crude main contract down 1.77% at 682.6 yuan/bbl; low-sulfur fuel oil (LU) down 4.58% at 5,500 yuan/ton; fuel oil down 4.04% at 4,816 yuan/ton; asphalt down 1.36% at 4,950 yuan/ton.