Asian markets have opened higher on Friday, with South Korea’s benchmark index soaring to a new record high, as investors cheered the news that US President Donald Trump and his Chinese counterpart, Xi Jinping, are set to hold talks next week.
The planned meeting has injected a powerful dose of optimism into a market that has been battered by the ongoing trade dispute between the two nations.
The positive sentiment was felt across the region, with Japan’s Nikkei 225 also climbing despite a fresh inflation report, while the Indian market is poised to extend its own winning streak.
South Korea’s Kospi soars 2% to a new record high
The day’s standout performer is South Korea, where the Kospi index has jumped 2% to a new all-time high. The rally is a direct reaction to the announcement from the White House that a Trump-Xi meeting is on the books.
US Press Secretary Karoline Leavitt confirmed that Trump will meet with Xi next Thursday after speaking at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Reuters reported.
Japan’s benchmark Nikkei 225 index has climbed 0.78%, a resilient performance in the face of a worrying new inflation report. Government data on Friday showed that the country’s core inflation rate accelerated to 2.9% in September, the first increase since May.
The figure, which strips out fresh food prices but includes energy, remained stubbornly above the Bank of Japan’s 2% target, a development that will add to the pressure on the central bank to consider its next move on monetary policy.
A positive start is expected for the Indian market
The Indian stock market is likely to open higher on Friday, tracking the gains in global markets and an improvement in domestic sentiment.
The trends on the Gift Nifty indicated a positive start for the benchmark indices, with the index trading at a premium of nearly 46 points.
The expected gains would extend the market’s winning streak to a seventh straight session, a powerful rally that saw the Sensex close up 0.15% on Thursday.
The positive mood in Asia follows another strong session on Wall Street, where all three major averages closed higher, boosted by strong earnings results and a rally in technology stocks.
The S&P 500 climbed 0.58%, while the Nasdaq Composite outperformed with a 0.89% gain, a rally supported by strong performances from AI players like Nvidia and Oracle.
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