Mixed Performance in Asian Markets Despite Wall Street Rally

Despite a rebound on Wall Street and Moody's warning about a potential US government shutdown, Asia-Pacific markets fell across the board. Japan's Nikkei 225 and Topix slipped, South Korea's Kospi led losses, Australia's S&P/ASX 200 shed, Hong Kong's Hang Seng index slid, and mainland Chinese markets were marginally higher. In other news, Japan's Prime Minister Fumio Kishida outlined an economic stimulus plan featuring tax breaks for semiconductors and batteries, Japan's wholesale inflation for the service sector climbed at its fastest pace since September 2022, Bank of America upgraded three European luxury stocks, Moody's warned that a US government shutdown would be "credit negative," and Amazon shares rose on news of its investment in AI startup Anthropic. Additionally, the Federal Reserve is getting closer to keeping interest rates steady, Chevron's CEO said oil prices could climb even higher, and Meta's stock is considered "uninvestable" by some due to its restructuring.