U.S. President Donald Trump (left) and Prime Minister Sanae Takaichi (right) hold up the signed document of the Critical Minerals and Rare Earths Agreement with Japan during a meeting at Akasaka Imperial Villa in Tokyo on October 28, 2025. President Trump is currently on a trip to Asia for the ASEAN Summit in Malaysia, and has since visited Japan and South Korea ahead of the APEC meeting.
Andrew Harnik | Getty Images News | Getty Images
Asian markets were broadly lower on Tuesday as investors digested the new rare earth framework signed by US President Donald Trump and Japanese Prime Minister Sanae Takaichi, capping Wall Street’s gains from record highs.
After arriving in Tokyo on Monday, President Trump met with Japan’s Emperor Naruhito, becoming the first foreign leader to meet with him since Takaichi took office.
Japanese Nikkei Stock Average It fell 0.58% to 50,219.18, retreating from Tuesday’s all-time high, while the broader Topix fell 1.18% to close at 3,285.87.
Despite Wall Street’s gains, with all three major US indexes hitting new closing highs, other Asia-Pacific markets were more mixed.
Korean Kospi It also fell from Monday’s all-time high, dropping 0.8% to close at 4,010.41.
The small-cap Kosdaq rose slightly to end the day at 903.3, its highest since April 2024.
South Korea also released third-quarter GDP statistics, which exceeded expectations and expanded at the fastest pace in a year.
Australia’s S&P/ASX 200 index fell 0.48% to close at 9,012.5.
Hong Kong hansen index fell 0.33% to end at 26,346.14, while mainland China’s CSI300 index also fell 0.51% to end at 4,691.97, ending its three-day winning streak.
China’s Sany Heavy Industries Ltd. traded flat in its Hong Kong trading debut on Tuesday after raising HK$12.36 billion ($1.59 billion) this year, making it one of the city’s biggest listed companies.
In the US, the S&P 500 index rose 1.23% to 6,875.16 overnight, closing above the 6,800 level for the first time.
The Nasdaq Composite Index rose 1.86% to 23,637.46, helped by gains in Nvidia and other semiconductor stocks. The Dow Jones Industrial Average rose 337.47 points, or 0.71%, to 47,544.59.
Major market catalysts are on the horizon this week, including Big Tech earnings, the Federal Reserve’s interest rate decisions, and a potential China trade deal.
— CNBC’s John Meloy, Sean Conlon and Liz Napolitano contributed to this report.
