Asian stocks cool after rally

Most Asian stock markets fell on the morning of October 22, as investors took profits after two days of strong gains amid renewed concerns over US-China trade talks.

Stock index board in Hong Kong, China. Photo: THX/TTXVN

In Tokyo, the Nikkei index fell in late morning trading as investors took profits from a recent rally in technology stocks. The Nikkei 225 index fell 238.50 points, or 0.48%, to 49,077.56.

Investors sold stocks amid growing concerns about signs of overheating in the market. The Nikkei index had risen more than 3% on October 20 and approached the 50,000 mark on October 21 as investors hoped Prime Minister Sanae Takaichi's government would expand fiscal spending to boost economic growth.

Along with that, the decline of large-cap technology stocks following the decline of the US Nasdaq technology index in the session on October 21 also put pressure on the market.

In Seoul, South Korean stocks reversed course late Wednesday morning, led by gains in auto and shipbuilding stocks. After opening lower, the KOSPI index rose 11.6 points, or 0.3 percent, to 3,835.44.

Major indexes also fell in China. The Shanghai Composite Index in Shanghai opened down 0.52% at 3,896.07 points. The Hang Seng Index in Hong Kong fell 0.6% to 25,863.79 points.

The sell-off comes after a strong rally on hopes of a thaw in US-China relations and expectations of a rate cut by the US Federal Reserve. However, comments from President Donald Trump on October 21 have rattled the market.

Mr Trump said he hoped to sign a “nice” trade deal with Mr Xi at the Asia- Pacific Economic Cooperation (APEC) summit in South Korea next week, but later added that it might not happen.

In the domestic market, at 11:45 a.m. on October 22, the VN-Index decreased by 5.95 points (0.36%) to 1,657.48 points. The HNX-Index decreased by 0.60 points (0.23%) to 264.05 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-chau-a-ha-nhiet-sau-chuoi-tang-diem-20251022130221217.htm