Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Most Asian stocks retreated on Friday amid profit-taking in the technology sector, while South Korea’s benchmark surged to new highs following a week-long holiday. The regional downturn mirrored Wall Street’s overnight pullback, as the tech rally paused and the U.S. government shutdown delayed key economic data.
S&P 500 futures gained 0.2% in Asian trading, supported by persistent expectations of an October rate cut by the Federal Reserve. Optimism over a ceasefire between Israel and Hamas also buoyed sentiment.
In Japan, the Nikkei 225 dropped 1% and the broader TOPIX index slid 1.7%, both retreating from record levels. Tech giant SoftBank Group (TYO:9984) led losses with a 3.4% drop, following a stronger-than-expected producer price inflation reading for September. The data raised concerns that the Bank of Japan may hike rates sooner, despite likely political resistance from the incoming Prime Minister Sanae Takaichi, known for her dovish fiscal stance. Japanese markets had rallied earlier in the week on her election as the ruling Liberal Democratic Party’s new leader.
Chinese stocks also slipped, with the CSI 300 down 0.5% and the Shanghai Composite off 0.2%. Hong Kong’s Hang Seng index fell nearly 1%, dragged by losses in tech and biotech shares. Semiconductor Manufacturing International Corp (HK:0981) tumbled 5.2%, while WuXi AppTec (HK:2359) and WuXi Biologics (HK:2269) dropped up to 3% after U.S. lawmakers advanced a bill restricting investments in Chinese biotech firms.
Elsewhere, Singapore’s Straits Times Index fell 0.2%, while Australia’s ASX 200 remained flat. India’s Nifty 50 futures rose 0.2% ahead of key tech earnings.
South Korea’s KOSPI was the standout performer, rallying 1.5% to a record 3,617.86. The surge came as chipmakers SK Hynix (KS:000660) and Samsung Electronics (KS:005930) soared 6.6% and 5.1%, respectively, on optimism over new processor supply deals with OpenAI, signaling robust growth prospects for the semiconductor sector.
