Asian markets mixed amid fed uncertainty

October 30, 2025 (MLN): Asian markets traded mixed on Thursday as investors awaited the outcome of the highly anticipated first in-person meeting between U.S. President Donald Trump and Chinese President Xi Jinping since Trump began his second term.

In Hong Kong, the Hang Seng Index edged up 0.48%, while mainland China’s CSI 300 remained just above the flatline, reflecting cautious sentiment as traders watched for clues on U.S.-China relations and potential trade discussions.

Elsewhere in the Asia-Pacific region, markets showed varied performances following U.S. Federal Reserve Chair Jerome Powell’s remarks that a December rate cut was “far from a foregone conclusion.” The Fed had earlier lowered the benchmark federal funds rate by 25 basis points to a range of 3.75%-4%, in line with expectations.

South Korea’s markets were also in focus after local media reported that Seoul’s chief policy advisor Kim Yong-beom revealed details of a new trade deal with Washington.

Under the agreement, South Korea will invest $200 billion in the U.S., capped at $20 billion annually, while another $150 billion from its previously announced $350 billion commitment will be directed toward shipbuilding cooperation.

Following the announcement, the Kospi gained 0.85%, driven by strength in auto and shipbuilding shares, while the Kosdaq slipped 0.78%.

In Japan, the Nikkei 225 advanced 0.36% and the Topix rose 0.61% after the Bank of Japan maintained its benchmark interest rate at 0.5% during its first policy meeting since Prime Minister Sanae Takaichi took office earlier this month.

Meanwhile, Australia’s S&P/ASX 200 dipped 0.34%, tracking overnight weakness in U.S. markets.

On Wall Street, U.S. stocks closed lower on Wednesday after Powell’s cautious tone. The Dow Jones Industrial Average slipped 0.2% to 47,632.00, while the S&P 500 ended marginally lower at 6,890.59. However, the Nasdaq Composite climbed 0.55% to a fresh record close of 23,958.47, lifted by gains in Nvidia shares.

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