{
  "id": 19119653,
  "title": "Tech firms claw back losses on bargain buying, Nvidia scrutiny weighs on sentiment",
  "url": "https://urgent.news/2026/11/09/tech-firms-claw-back-losses-on-bargain-buying-nvidia-scrutiny-weighs",
  "topic": "world",
  "section": "World",
  "published": "2026-11-09T07:41:18.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/money/2026/11/09/tech-firms-claw-back-losses-on-bargain-buying-nvidia-scrutiny-weighs-on-sentiment/242589"
  },
  "original_language": "en",
  "account": "Tech firms managed to recover some of their losses experienced last week amid AI regulation concerns, according to market reports. However, the gains were dampened by a probe into Nvidia CEO Jensen Huang and allegations of an affair with a Chinese spy. Chipmakers and other companies connected to the artificial intelligence boom suffered significant losses following the US midterms, where Democrats gained control of both chambers of Congress. The election results indicated that voters were unhappy with President Trump and his Republican Party, particularly over his Iran war and tariffs, as well as the massive data center construction that had taken place across the country. There is speculation that the new Congress could seek to curb tech firms' expansion, potentially jeopardizing thousands of jobs.\n\nThe uncertainty in the market coincides with traders' apprehensions over the timeline for the hundreds of billions of dollars poured into the sector to generate profits. After a drop on Thursday, Wall Street experienced relative stability at the end of the previous week, and Asia followed suit to start this week. Japan's Nikkei 225 rose by more than two percent, primarily due to gains in Tokyo Electron, Advantest, and Sony. Taiwan's Tawainese market also gained over four percent as the government pledged support for the market, including measures to curb short selling and bolster a US$15.2 billion stock stabilization fund. Other Asian markets, including Hong Kong, Shanghai, Bangkok, and Jakarta, also recorded gains.\n\nDespite the recovery, investors are closely monitoring the situation to determine whether the gains are merely short-term cover or the start of more sustainable growth. Sally Auld from National Australia Bank highlighted ongoing concerns regarding AI regulation, the outlook for capital expenditure, and free cash flow, which have been driving risk aversion in recent weeks. She noted that these issues are unlikely to be resolved with any certainty in the near term. Nonetheless, the valuation of many tech stocks appears less expensive now.\n\nThe situation was further complicated by news of an investigation into Nvidia into potential foreign espionage involving Huang, following his admission to being unfaithful to his wife. According to the New York Times, US intelligence concluded that a Chinese executive linked to a Singapore-based data center company, Megaspeed, had been sharing information with Beijing. The executive, Alice Huang, also known as Huang Le and not related to Nvidia's CEO, had a close relationship with the Nvidia CEO. The potential ramifications of Huang's extra-marital affair could provide insights into Trump's views on AI, which could trigger multiple congressional inquiries and heighten scrutiny over selling chips to China, an issue of great importance in Washington. Oil prices continued to decline, buoyed by hopes of an end to the Iran war following the Democrats' recent victory. Investors will be closely watching upcoming US inflation data for clues on potential interest rate hikes by the Federal Reserve in December, with an 80 percent chance of a rate increase.",
  "summary": "HONG KONG, Nov 9 — Tech firms clawed back today some of last week’s losses fuelled by AI regulation wor...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}