Asia markets struggle as Kospi sets record

October 23, 2025 (MLN): Asia markets traded mixed on Thursday, with South Korea’s Kospi index hitting a record high, while broader regional sentiment weakened amid renewed U.S.-China trade tensions and overnight losses on Wall Street.

South Korea’s Kospi rose 0.37%, buoyed by the Bank of Korea’s decision to keep its benchmark interest rate unchanged at 2.5%, a move widely anticipated by economists.

Policymakers maintained a cautious tone, flagging household debt as a persistent risk to financial stability. The small-cap Kosdaq was little changed, while the Korean won depreciated 0.21% to 1,434.80 per U.S. dollar, its lowest level since May.

Elsewhere in the region, Japan’s Nikkei 225 slipped 1.52%, and the Topix index declined 0.71%. Shares of SoftBank Group plunged over 6% in early trading after the company revealed plans to issue $2bn in U.S.-dollar-denominated bonds and €750m ($870m) in hybrid notes to fund its artificial intelligence (AI) investments.

The bonds will carry interest rates between 6.5% and 8.25%, with proceeds earmarked for “general business purposes,” according to a Tokyo Stock Exchange filing.

Australia’s S&P/ASX 200 dropped 0.33%, while Hong Kong’s Hang Seng Index edged down 0.17%, and China’s CSI 300 fell 0.8%, showing broader caution across regional equities.

In the U.S., major benchmarks retreated overnight as weak corporate earnings from Texas Instruments and Netflix dragged markets lower. The Dow Jones Industrial Average fell 334.33 points, or 0.71%, to close at 46,590.41. The S&P 500 slipped 0.53% to 6,699.40, while the Nasdaq Composite dropped 0.93% to 22,740.40.

At session lows, the Dow was down more than 400 points, while the S&P 500 and Nasdaq lost as much as 1.2% and 1.9%, respectively, as concerns over global trade and earnings weighed on investor confidence.

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