Asian Markets Close Mixed Amid Economic Developments and Tariff Concerns

# Asian Markets Close Mixed Amid Economic Developments and Tariff Concerns

**Note**: This analysis is generated at the close of the Asian session, focusing on end-of-day performance in Asian markets. Event times are in US Eastern Time.

The Asian session concluded with mixed performances across major indices, reflecting varied market sentiment. Shanghai Composite led gains, while TAIEX lagged, driven by regional economic data and global cues.

## Asian Indices Performance at Close

## Market Commentary at Asian Session Close

At the close of the Asian session, market sentiment varied across major indices, influenced by geopolitical developments and economic indicators.

**Japan:** The Nikkei 225 fell by 0.85% to 44,550.85, reflecting investor caution amid global uncertainties. The newly opened luxury hotel near Nagoya Castle, with room prices reaching 3.75 million yen ($25,000) per night, highlights Japan’s luxury sector resilience, yet it also underscores the widening economic disparity amid broader market concerns.

**China:** The Shanghai Composite gained 0.52% to 3,882.78, buoyed by the announcement of China surpassing 10,000 km of subsea pipelines, enhancing its offshore energy infrastructure. Additionally, the anticipation of a travel boom during China’s “super golden week” is expected to invigorate the service economy, with forecasts of 8 million to 8.4 million trips abroad, more than double the previous year.

**India:** The Nifty 50 index rose 0.92% to 24,836.30, supported by the Reserve Bank of India’s decision to maintain interest rates at 5.5%, aligning with market expectations. However, concerns about President Trump’s potential 100% tariff on foreign films have alarmed the Indian film industry, which is already grappling with declining cinema attendance.

**Singapore:** The Straits Times Index closed up 0.53% at 4,323.12, bolstered by the buzz surrounding TOKEN2049, the world’s largest crypto festival attracting over 25,000 attendees. Notably, the launch of Spacecoin’s blockchain transaction via satellite at the event could signify a pivotal moment for decentralized finance.

**South Korea:** The KOSPI index increased by 0.91% to 3,455.83, driven by Samsung and SK’s partnerships with OpenAI on AI infrastructure, indicating a strong commitment to technology advancement. Furthermore, discussions around Dunamu’s potential Nasdaq listing through a merger with Naver Financial highlight the ongoing evolution of the fintech landscape.

**Thailand:** The SET Index saw a modest increase of 0.07% to 1,275.03, despite concerns regarding the strong baht impacting exports and tourism. The currency’s rise has been a double-edged sword, benefiting importers while challenging businesses reliant on foreign markets.

**Hong Kong:** The Hang Seng Index rose by 0.87% to 26,855.56, despite the ongoing art market

## FX, Commodities, and Crypto Performance

At the close of the Asian session, commodities exhibited mixed performance. Gold increased by 0.51%, reaching $3,892.80, reflecting safe-haven demand amid ongoing market uncertainties. Conversely, crude oil declined by 0.83% to $61.82, as concerns over supply dynamics weighed on sentiment. In the cryptocurrency market, bullish momentum prevailed, with Bitcoin rising 2.16% to $116,507.96 and Ethereum gaining 3.31% to $4,282.86, driven by positive investor sentiment and increased institutional interest. Overall, the market displayed a cautious yet optimistic tone, particularly in the crypto space, while commodities faced divergent pressures.

**Commodities**

**Cryptocurrencies**

## Economic Events During Asian Session

The following table lists medium to high-importance economic events from Asian countries that occurred during the Asian session (yesterday 17:00 to today 03:30 ET), impacting market close.

During the Asian session on September 30, 2025, several key economic indicators from Japan influenced market sentiment and currency movements. The Tankan All Big Industry CAPEX for Q3 reported a robust 12.5%, surpassing expectations, which bolstered confidence in Japan’s economic outlook. However, the Tankan Big Manufacturing Outlook Index fell slightly to 12, missing the forecast of 13, while the Large Manufacturers Index remained stable at 14, in line with expectations. Conversely, the Large Non-Manufacturers Index improved to 34, exceeding the forecast of 33, indicating strength in the services sector.

These mixed results contributed to a cautious sentiment in the currency markets, with the Japanese Yen (JPY) exhibiting volatility. The positive CAPEX figure provided some support for the Yen, while the underwhelming manufacturing outlooks restrained its gains.

At the close of the session, the JPY showed slight appreciation against the US Dollar, reflecting a complex interplay of economic signals. Additionally, the 10-Year JGB Auction held later in the session, although without specific results available, is typically a focal point for investor sentiment regarding Japan’s debt markets. Overall, the session highlighted a nuanced economic landscape for Japan, impacting currency dynamics.

## What to Watch Next

– Follow-through from today’s regional macro data and policy announcements.
– Company earnings or updates impacting large-cap indices.
– Overnight cues from US and European market sessions.
– Early indications from China and Hong Kong markets at tomorrow’s open.
– Currency trends in USD/JPY and USD/CNY influencing equities.
– Geopolitical developments affecting market sentiment.