Asian shares gave up earlier gains on October 29, 2026, as investors assessed mixed responses to technology earnings and the Federal Reserve’s decision to leave interest rates unchanged. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7%.

Key Takeaways

  • South Korea’s KOSPI fell 2.6% after a nearly 7% rise the previous day.
  • Alphabet shares fell 10% in after-hours trading, while Microsoft rose 3%.
  • Amazon and Intel results were due later on October 29.

Asian shares turn lower

Samsung Electronics shares fell more than 4% even after the company reported that third-quarter operating profit rose nearly ninefold to a record high, driven by demand for AI chips.

Other regional markets were mixed, with Japanese and Hong Kong shares holding modest gains while mainland Chinese blue chips declined.

ItemDetails
Japan’s NikkeiUp 0.3% after trimming earlier gains
Mainland China blue chipsDown 0.9%
Hong Kong Hang SengUp 0.2%

Technology earnings draw different reactions

Alphabet’s after-hours decline wiped nearly $400 billion from its market value, while Nasdaq futures fell 1%. Microsoft shares rose after the company beat forecasts and reported better-than-expected cash flows.

In South Korea, SK Hynix shares rose 1.3% after jumping 11% the previous day following strong earnings.

Central bank decisions in focus

The Federal Reserve held interest rates steady on October 28, with two committee members voting for an increase. The two-year Treasury yield fell 6 basis points overnight and was last flat at 4.6933%.

Separately, the Bank of Canada’s October 28 rate decision raised its policy rate by 25 basis points to 2.5%. The bank said a further increase could be needed, but it would proceed carefully given uncertainty.

Next milestone

Amazon and Intel were due to report earnings later on October 29, while the European Central Bank was expected to announce its rate decision.

Read More News

More FinanceVelix news

Disclaimer

This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.