Asia markets mixed, Japan slides on yen strength

January 26, 2026 (MLN): Asia  markets opened the week on a mixed weighed on geopolitical developments and prepared for a heavy slate of global economic events.

Japan led regional losses, with the Nikkei 225 falling 1.52% and the broader Topix down 1.76%.

The Japanese yen strengthened 0.45% to around 155.01 per dollar, keeping markets on edge after Japan’s prime minister warned authorities could step in to curb speculative moves following Friday’s sharp currency gains, according to CNBC.

South Korean stocks moved higher, with the Kospi rising 0.64% and the tech-heavy Kosdaq surging 2.28%.

In Greater China, Hong Kong’s Hang Seng Index slipped 0.26%, while mainland China’s CSI 300 edged up 0.27%. Australia’s S&P/ASX 200 also posted modest gains, advancing 0.13%.

Geopolitical tensions remained in focus after Canadian Prime Minister Mark Carney said on Sunday that Canada has no plans to pursue a free trade agreement with China.

His comments followed U.S. President Donald Trump’s warning that Washington would impose 100% tariffs on Canada if such a deal were reached.

U.S. equity futures pointed lower ahead of a pivotal week marked by major corporate earnings and a Federal Reserve policy meeting.

Dow Jones Industrial Average futures fell 131 points, or 0.27%, while S&P 500 and Nasdaq-100 futures declined 0.33% and 0.48%, respectively.

On Wall Street last Friday, markets closed mixed. The Nasdaq Composite rose 0.28% to 23,501.24, extending gains as geopolitical concerns eased.

The Dow Jones Industrial Average dropped 285.30 points, or 0.58%, to 49,098.71, weighed down by a nearly 4% decline in Goldman Sachs shares.

The S&P 500 finished little changed, inching up 0.03% to 6,915.61.

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