Hang Seng Tech Index turned positive in the afternoon, led by Semiconductor Manufacturing International Corp. (00981.HK); Hang Seng Index up 0.81%.

Venezuela is negotiating with U.S. trader Mercuria Energy Group and private mining investor Heeney Capital on a second aluminum export to the United States, sources said; the shipment is expected before year-end and could be similar in size and terms to the roughly 15,000 tonnes that arrived in New Orleans at end-September. Both firms are also separately in talks with the Venezuelan government to operate state smelter Venalum. The trade resumption is part of efforts to rebuild commercial ties since the U.S. detained former Venezuelan president Maduro in January; Venezuela’s new foreign minister Oliver Blanco met U.S. Secretary of State Rubio and Treasury Secretary Bessent in Washington on Monday. Aluminum is designated a U.S. critical mineral, and the move signals deeper U.S. corporate involvement in Venezuelan mining and metals while highlighting tension in Trump-era metal trade policy: expanding imports from Venezuela alongside high tariffs to protect domestic producers.

Awaiting US midterm results, Korea's KOSPI reversed early gains and fell about 2.5%, with Samsung Electronics down roughly 3% and SK Hynix off about 4.5% as AI-related names retreated. Asian AI infrastructure firms remain highly dependent on US-led AI investment; iM Securities analyst Yang Hyun-kyung said if Democrats control both chambers, calls for tougher AI regulation could rise, creating uncertainty around data-center expansion timetables.