After a US Democratic sweep of Congress, Japanese and South Korean stocks plunged as much as 4% in early trade before staging a midday rebound. At close, Japan's Nikkei 225 fell 893.23 points (-1.42%) to 62188.63. South Korea's KOSPI rose 34.88 points (+0.62%) to 5683.67. SK Hynix closed down 0.14% after an intraday drop of up to 6%; Samsung Electronics closed down 0.68%.

Russell 2000 index rose 1%.

Decision Desk HQ projects Democrats have flipped five U.S. Senate seats and are closing on a majority. DDHQ says Adam Hamilton (D) has flipped a Kansas Senate seat — the first Democrat elected to a Kansas U.S. Senate seat since 1932 — benefiting from voter discontent over Trump’s tariff policy and fuel-price anger tied to the Iran war. With 84% of votes reported, Hamilton led Roger Marshall (R) 53% to 44%; DDHQ declared him the winner, though other TV networks have not. DDHQ and several broadcasters project Democratic gains in North Carolina, Ohio, Texas, Kansas and South Carolina. Democrats need a net gain of four seats to control the Senate, assuming they do not lose any existing seats elsewhere.