Asia markets gain as Trump-Xi talks boost investor sentiment

October 24, 2025 (MLN): Asia markets traded higher on Friday, with South Korea’s Kospi leading gains after the White House confirmed that U.S. President Donald Trump and China’s President Xi Jinping will meet next week, fueling optimism for improved U.S.-China relations.

The Kospi surged 2% to a record high, supported by strong investor sentiment. U.S. Press Secretary Karoline Leavitt said Trump will depart for Malaysia late Friday before traveling to Japan and South Korea, where he is set to meet Xi next Thursday after addressing the Asia-Pacific Economic Cooperation (APEC) CEO Summit.

South Korea’s Kosdaq index also gained 0.92%, while the country’s finance ministry reiterated its readiness to step in to stabilize the foreign exchange market if needed amid continued volatility in the won-dollar trade.

The South Korean won strengthened 0.11% to 1,434.7 per dollar, though it has fallen over 4% against the U.S. dollar in the past three months. Year-to-date, however, the won has appreciated 2.86%.

In Japan, the Nikkei 225 advanced 0.78%, and the Topix added 0.39%, following data showing core inflation rose to 2.9% in September, its first increase since May and in line with economists’ expectations. The figure was up from 2.7% in August, as higher energy prices pushed overall inflation higher. Headline inflation also climbed to 2.9%, showing persistent price pressures.

Australia’s S&P/ASX 200 was up 0.19% at the open after Reserve Bank of Australia (RBA) Governor Michele Bullock revealed plans to review and upgrade the Reserve Bank Information and Transfer System (RITS) starting next year.

The initiative aims to modernize Australia’s interbank settlement platform by adopting new data technologies, extending operational hours, and expanding central bank money usage for settlements.

Elsewhere, Hong Kong’s Hang Seng Index rose 0.83%, while China’s CSI 300 gained 0.57%, adding to the positive regional momentum.

Overnight on Wall Street, the S&P 500 gained 0.58% to close at 6,738.44, supported by strong earnings from major tech firms.

The Dow Jones Industrial Average added 144.20 points, or 0.31%, to end at 46,734.61, while the Nasdaq Composite outperformed with a 0.89% rise to 22,941.80, driven by gains in Nvidia, Broadcom, Amazon, and a nearly 3% jump in Oracle shares, lifting overall sentiment across markets.

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