Index	Price	Daily Change (%)
Shanghai Composite	3834.89	-2.45
Nikkei 225	48625.88	-2.40
Hang Seng Index	25220.02	-2.38
Shenzhen Component	12538.07	-3.41
KOSPI	3853.26	-3.79
S&P/ASX 200	8416.50	-1.59
NIFTY 50	26068.15	-0.47
Straits Times Index	4469.14	-0.95
S&P/NZX 50	13419.40	+0.93
Thailand SET Index	1254.40	-2.14
FTSE Bursa Malaysia KLCI	1617.57	-0.15
TAIEX	26434.94	-3.61

On November 21, 2025, Asian markets experienced a notable downturn, with major indices reflecting widespread investor anxiety amid global economic developments. The Shanghai Composite fell by 2.45%, while the Nikkei 225 and Hang Seng Index dropped by 2.40% and 2.38%, respectively. The Shenzhen Component saw the steepest decline at 3.41%, and the KOSPI decreased by 3.79%. Such declines indicate a pervasive negative sentiment across the region, driven by multiple factors.

One significant event impacting market sentiment was the announcement of a US$44 million luxury home sale in Hong Kong linked to a mainland Chinese investor. This transaction, while indicative of a potential rebound in the luxury real estate market, comes amidst a backdrop of years of declining property values, raising questions about the sustainability of such recoveries in the face of broader economic challenges.

In the energy sector, oil prices and related stocks fell sharply following the U.S. government’s push for a peace deal between Russia and Ukraine. This development has raised concerns about future oil supply dynamics, contributing to the bearish sentiment in energy markets and, by extension, impacting related equities across Asia.

Conversely, Japan’s announcement of a substantial $135 billion stimulus package aimed at bolstering the economy and supporting consumers provided a glimmer of hope for market participants. The stimulus, focused on addressing rising prices and enhancing defense capabilities, is expected to stimulate economic activity, although its immediate impact on market indices was muted.

In Singapore, the government raised its annual growth forecast following a better-than-expected third-quarter GDP performance, which is a positive sign amid global trade headwinds. Additionally, OCBC’s expansion of its digital wallet services across Southeast Asia reflects a strategic move to enhance financial inclusion and streamline remittance processes, potentially bolstering regional economic resilience.

Investor sentiment remains cautious, with broader concerns about the economy and credit markets influencing trading behavior. The recent survey indicating that the majority of Singaporeans own cryptocurrencies highlights a shift towards digital assets, yet the market remains volatile, with Bitcoin’s price fluctuations continuing to capture investor attention.

Overall, the Asian markets on November 21, 2025, are grappling with a combination of local economic developments and global geopolitical tensions, leading to a bearish trend across major indices.

Date	Time	Cur	Imp	Event	Actual	Forecast
2025-11-20	15:30		Medium	CFTC JPY speculative net positions
2025-11-20	18:30		Medium	National Core CPI (YoY) (Oct)	3.0%	3.0%
2025-11-20	18:30		Medium	National CPI (MoM) (Oct)	0.4%
2025-11-20	18:50		Medium	Adjusted Trade Balance	0.00T	-0.13T
2025-11-20	18:50		Medium	Exports (YoY) (Oct)	3.6%	1.1%
2025-11-20	18:50		Medium	Trade Balance (Oct)	-231.8B	-280.0B
2025-11-20	19:30		Medium	au Jibun Bank Services PMI (Nov)	53.1

On November 21, 2025, key economic data from Japan revealed a mixed outlook, which could influence trading strategies for Asian indices. The National Core CPI for October matched expectations at 3.0%, indicating stable inflation levels. However, the National CPI (MoM) recorded a 0.4% increase, with no forecast provided, suggesting slight upward pressure on prices.

The Adjusted Trade Balance showed a surprising surplus of 0.00 trillion JPY, significantly better than the forecasted deficit of -0.13 trillion JPY. This positive outcome, along with exports rising 3.6% YoY against a forecast of 1.1%, reflects stronger international demand and could bolster confidence in Japan’s economic resilience.

Conversely, the Trade Balance for October reported a deficit of -231.8 billion JPY, better than the anticipated -280.0 billion JPY, indicating a less severe trade shortfall than expected. Additionally, the au Jibun Bank Services PMI for November stood at 53.1, suggesting continued expansion in the services sector.

Overall, these results may lead to a cautious optimism among traders, potentially supporting Japanese equities and influencing broader Asian market sentiment positively.

In the foreign exchange market, the USD/JPY pair decreased by 0.36%, reflecting ongoing concerns over Japan’s economic outlook. The USD/INR rose by 0.93%, driven by strong domestic demand and inflationary pressures in India. Meanwhile, the AUD/USD and USD/CNY pairs showed slight declines, indicating mixed sentiment in the Asia-Pacific region.

In commodities, gold prices fell by 0.57% amid a stronger dollar and rising interest rates, while crude oil experienced a more significant drop of 1.81%, influenced by concerns over global demand and supply chain disruptions.

In the cryptocurrency sector, Bitcoin and Ethereum saw substantial declines of 4.81% and 5.07%, respectively, primarily due to regulatory uncertainties and market corrections following recent highs. Overall, market sentiment remains cautious across these asset classes, influenced by macroeconomic factors and geopolitical tensions.

Currency Pair	Price	Daily Change (%)
USD/JPY	156.85	-0.36
USD/CNY	7.11	-0.08
USD/SGD	1.31	+0.06
AUD/USD	0.64	-0.17
NZD/USD	0.56	+0.16
USD/INR	89.52	+0.93

Commodity	Price	Daily Change (%)
Gold	4037.10	-0.57
Crude Oil	57.95	-1.81

Crypto	Price	Daily Change (%)
Bitcoin	82363.20	-4.81
Ethereum	2687.05	-5.07

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