SEOUL, October 31 (AJP) - Asian stock markets were mixed on Friday, with Japan’s Nikkei 225 surging past the 52,000 mark for the first time in its 75-year history, while Chinese and Hong Kong shares slipped and South Korea’s benchmark index traded little changed.
As of late morning, Japan’s Nikkei 225 was up 1.5 percent at 52,089.30, building on a week of record-breaking gains. The index crossed 50,000 on Monday and 51,000 on Wednesday before reaching another milestone Friday. The rally has been supported by a weaker yen, steady policy from the Bank of Japan and upbeat earnings from major U.S. technology firms such as Apple.
In Seoul, the Kospi edged up 0.2 percent to 4,096.66 as of 10:17 a.m., holding near flat as foreign investors continued to sell local equities, limiting further gains. Foreigners sold a net 122 billion won ($87 million) worth of Korean shares, reflecting lingering caution in the market.
Analysts said several factors were weighing on sentiment. Although Seoul and Washington reached a tariff agreement at the Asia-Pacific Economic Cooperation summit in Gyeongju, Thursday, unresolved details have kept trade-related risks in play.
Profit-taking has also emerged after recent sharp gains, while Federal Reserve Chair Jerome Powell’s unexpectedly hawkish remarks on rate cuts have tempered expectations for additional monetary easing this year. Powell told reporters Thursday that a December rate cut was “not a foregone conclusion,” surprising investors who had priced in further accommodation.
A weaker close on Wall Street overnight — with the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all ending lower — has added to the cautious mood across Asia.
Still, optimism around artificial intelligence provided some support for Korean technology shares. Market sentiment brightened after Nvidia Chief Executive Jensen Huang met informally over “chimaek” — Korean fried chicken and beer — with Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Chairman Chung Eui-sun. Media reports said Nvidia may soon announce major AI chip supply deals with leading Korean firms, potentially deepening partnerships in the global tech race.
In China, the Shanghai Composite Index slipped 0.5 percent to 3,969.13, while Hong Kong’s Hang Seng Index fell 0.4 percent to 26,186.24.
The South China Morning Post reported that investors remained cautious following the Xi-Trump meeting at APEC, noting that markets had already priced in expectations of a limited trade thaw. Persistent skepticism over the durability of any trade relief continued to weigh on sentiment.
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