Asia markets trade mixed, metals retreat

January 30, 2026 (MLN): Asia markets traded on a mixed note on Friday, weighing an imminent decision on the next U.S. Federal Reserve chair alongside sharp profit-taking in precious metals.

Markets across the region showed limited direction after U.S. President Donald Trump said he would unveil his nominee to succeed Federal Reserve Chair Jerome Powell later in the day, as reported by CNBC.

In regional trading, South Korea led gains, with the Kospi rising 1.23% and the tech-heavy Kosdaq climbing 0.99%. Japan’s Nikkei 225 edged up 0.25%, while the broader Topix index added 0.58%.

Australia’s S&P/ASX 200 advanced 0.23%. In contrast, Chinese equities remained under pressure, with Hong Kong’s Hang Seng index slipping 0.71% and the mainland CSI 300 declining 0.51%.

U.S. equity futures pointed to a softer open, with S&P 500 and Nasdaq 100 futures each down 0.16%, while Dow futures fell 112 points, or around 0.2%.

Overnight on Wall Street, markets closed mixed after digesting earnings from Microsoft alongside the Federal Reserve’s latest policy decision.

The S&P 500 slipped 0.13% to 6,969.01, weighed down by losses in megacap technology stocks. The Nasdaq Composite dropped 0.72% to 23,685.12, while the Dow Jones Industrial Average bucked the trend, gaining 55.96 points, or 0.11%, to settle at 49,071.56.

In commodities, gold and silver prices retreated sharply after reaching record highs in the previous session, as investors locked in profits following a powerful rally earlier this year.

Spot gold slid more than 4% to $5,156.64 per ounce, though it remained up nearly 20% on a year-to-date basis.

Silver followed a similar trajectory, falling over 5% to $110.26 per ounce. Despite the decline, the metal is still up around 53% so far this year, emphasizing the strength of the broader precious metals rally.

Cryptocurrency markets also came under pressure, with bitcoin shedding more than 5% to hit its lowest level in nearly two months, adding to the cautious tone across global risk assets.

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