South Korea’s Kospi jumped 1.28 percent, extending its lead as the region’s top-performing index

Asian stock markets declined on Friday as Wall Street shares eased ahead of key earnings releases, while commodity markets paused after their recent strong rally.

The S&P 500 last closed 0.28 percent lower, while the Nasdaq Composite lost 18.75 points, or 0.08 percent, to 23,024.63. Meanwhile, the Dow Jones Industrial Average fell 243.36 points, or 0.52 percent, to 46,358.42.

Next Tuesday, major U.S. banks JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo are set to release their quarterly results, marking the unofficial start of the third-quarter earnings season. Analysts expect S&P 500 companies to post year-on-year earnings growth of 8.8 percent for the July–September period, down from 13.8 percent in the previous quarter and 9.1 percent in the same period last year, according to the latest data from LSEG.

South Korea’s Kospi emerges as region’s top-performing index

In the Asian stock market, MSCI’s broadest index of Asia-Pacific shares outside Japan swung between small gains and losses, last down 0.41 percent. Hong Kong’s Hang Seng Index led regional losses, falling 1.16 percent, while Australia’s benchmark slipped 0.13 percent amid choppy commodity markets. In contrast, South Korea’s Kospi jumped 1.28 percent, extending its lead as the region’s top-performing index.

Japan’s Nikkei stock index fell 1.14 percent, easing after sharp gains this week, including on Thursday, when it hit an all-time closing high.

Data released earlier in the day showed Japan’s wholesale prices rose 2.7 percent in September, underscoring persistent cost pressures that could prompt the Bank of Japan to consider a rate hike at its October 30 meeting.

The dollar eased 0.1 percent against the yen to 152.96, hovering near the Japanese currency’s weakest level since February, after newly elected ruling party leader Sanae Takaichi emphasized on Thursday that while the central bank sets monetary policy, its decisions should align with government objectives. However, traders cautioned that her pledge to reassert government influence over the Bank of Japan could be tested by the yen’s weakness and domestic political constraints.

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Chinese equities dip as gold extends decline

In the commodities market, gold extended its decline on Friday after snapping a four-day winning streak the previous session, when it briefly surpassed the $4,000 mark for the first time. Silver rose 0.15 percent to $49.19 per ounce, easing from the record high of $51.22 it hit on Thursday. Meanwhile, platinum fell 1.45 percent to $1,595.05 and palladium dropped 2.3 percent to $1,379.13.

In the Chinese stock market, the CSI 300 Index dipped 1.33 percent after overnight losses in U.S.-listed ETFs tracking major Chinese firms, following Beijing’s decision to expand rare earth export controls on Thursday, a move seen as tightening its grip on the strategic sector ahead of upcoming talks between Presidents Trump and Xi Jinping.

In energy markets, Brent crude futures inched down 12 cents, or 0.18 percent, to $65.10 a barrel by 4:08 GMT, while U.S. West Texas Intermediate (WTI) crude dipped 7 cents, or 0.11 percent, to $61.44 per barrel.