U.S. President Donald Trump (L) and Japanese Prime Minister Sanae Takaichi (R) hold up signed documents for a critical minerals/rare earth deal with Japan during a meeting at Akasaka Palace on October 28, 2025 in Tokyo, Japan. Trump is on a visit to Asia that takes in the ASEAN summit in Malaysia, followed by a trip to Japan and South Korea ahead of the APEC meetings.
Andrew Harnik | Getty Images News | Getty Images
Asia markets fell across the board on Tuesday as investors in the region look toward a meeting between U.S. President Donald Trump and newly minted Japanese Prime Minister Sanae Takaichi.
Trump met Japan’s Emperor Naruhito after arriving in Tokyo on Monday and will be the first foreign leader to hold talks with Takaichi since she took office.
Japan’s Nikkei 225 retreated from its record high on Tuesday, falling 0.38%, while the broad-based Topix was down 0.49%.
Other Asia-Pacific markets also fell, despite gains on Wall Street that sent all three major U.S. indexes record closing highs.
South Korea’s Kospi led losses in the region, dipping 1.32%, while the small-cap Kosdaq fell marginally.
South Korea also reported its third-quarter GDP numbers, which beat expectations and marked its fastest pace of expansion in over a year.
Australia’s S&P/ASX 200 started the day down 0.22%.
Hong Kong Hang Seng index slipped 0.1%, while mainland China’s CSI 300 was down 0.39%.
China’s Sany Heavy Industry traded flat on its Hong Kong trading debut Tuesday after raising HKD$12.36 billion ($1.59 billion) in one of the city’s largest listings this year.
Overnight in the U.S., the S&P 500 climbed 1.23% to 6,875.16, its first close ever above the 6,800 level.
The Nasdaq Composite rallied 1.86% to 23,637.46, bolstered by a rise in Nvidia and other chip stocks. The Dow Jones Industrial Average jumped 337.47 points, or 0.71% to 47,544.59.
Key market catalysts loom ahead this week, including Big Tech earnings, a Federal Reserve rate decision and a potential China trade deal.
— CNBC’s John Melloy, Sean Conlon and Liz Napolitano contributed to this report.