Tech stocks lead gains, Asian stocks rebound strongly

Asian stock markets rose in afternoon trading on October 24, thanks to positive business results from Wall Street and optimism after the White House confirmed that US President Donald Trump will meet with Chinese President Xi Jinping next week.

Investors monitor stock indexes in Jiangsu province, China. Photo: THX/TTXVN

At the close of trading, the MSCI Asia- Pacific Index (excluding Japan) rose 0.4%. In China, key indexes rose across the board after the 4th Central Conference ended with a communique clearly defining the 15th Five-Year Plan, identifying the top priority as building a modern industrial system and strengthening the foundation of the economy.

In China, the Hang Seng Index (Hong Kong) rose 0.6% to 26,122.1 points, the Shanghai Composite Index (Shanghai) rose 0.4% to 3,938.98 points - the highest level since August 2015. The blue-chip CSI300 index rose 0.7%, heading for its most positive trading week in two months.

In Japan, the Nikkei 225 index jumped 1.5% to close at 49,380.25 points, recovering strongly from the previous session's decline. Technology stocks led the gains, supported by optimism about the US-China summit.

Data released on the same day showed that Japan's core inflation in September 2025 increased to 2.9%, from 2.7% the previous month. Although price pressures remain high, analysts said the Bank of Japan (BoJ) is likely to maintain current interest rates at its meeting next week, in line with the views of new Prime Minister Sanae Takaichi - who favors loose monetary policy to boost growth.

In Southeast Asia, Indonesia's Jakarta Composite Index rose 0.5% to a new record high. South Korea's Kospi Index also rose sharply by 2.3% to 3,935.75 points - a multi-month high. In contrast, Australia's S&P/ASX 200 Index fell less than 0.1% to 9,027 points, after preliminary data showed the October 2025 Manufacturing Purchasing Managers' Index (PMI) fell to 49.7 points, down from 51.4 in September 2025 - reflecting signs of a decline in industrial activity.

In the corporate market, strong quarterly earnings reports from major corporations continued to support global investor sentiment. Intel shares rose sharply in after-hours trading on October 23 (US time) after announcing better-than-expected business results. Tesla shares also rose 2.3% despite lower-than-expected profits but higher revenue than analysts' estimates.

Investors expect US companies to continue to maintain their profit growth momentum, thereby supporting valuations after the S&P 500 index's 35% increase since its April 2025 bottom.

In the US, the government remains shut down, delaying the release of most economic data. Investors are now focusing on the Consumer Price Index (CPI) report released on October 24 (US time), which is considered a policy-oriented factor for the US Federal Reserve (Fed) meeting next week.

“The market is now pretty much betting that the Fed will cut rates next week, given the labor market uncertainty, but the bigger question is how they will act at their December 2025 meeting,” said Skye Masters, head of market research at National Australia Bank.

According to the schedule, President Donald Trump will depart for Malaysia on October 24, before visiting Japan and South Korea, where he is expected to meet President Xi Jinping on October 30, right before the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea from October 31 to November 1.

The meeting took place in the context of the US-China trade tension continuing to escalate and with only one week left until the November 1 deadline - the date when the US plans to impose an additional 100% tax on goods imported from China.

In the domestic market, at the end of the afternoon session on October 24, the VN-Index decreased slightly by 3.88 points, or 0.23%, to 1,683.18 points. The HNX-Index increased by 0.5 points, or 0.19%, to 267.28 points.

Source: https://baotintuc.vn/thi-truong-tien-te/co-phieu-cong-nghe-dan-dat-da-tang-chung-khoan-chau-a-phuc-hoi-manh-20251024165950880.htm