06:48 AM EDT, 10/30/2025 (MT Newswires) -- Asian stock markets were mixed and muted Thursday, after the much-anticipated meeting between China and US leaders culminated without a positive concrete surprise, and following a warning from the US central bank that more cuts may be off the table.

Presidents Xi Jinping of China and Donald Trump of the US met in South Korea, and issued upbeat statements, but traders considered the meeting resulted in scant details.

In central bank news, Federal Reserve Chief Jerome Powell said that more rate cuts from the US central bank are not given, after the Fed implemented a 0.25% reduction on Wednesday.

Tokyo inched into green on Thursday action, but Hong Kong and Shanghai lost ground, while other regional exchanges were similarly mixed.

In Japan, the Nikkei 225 see-sawed through the day but finished up by a sliver, led by tech- and AI-related shares.

A softer yen undergirded export issues, while a Japan central-bank decision to hold rates steady eased monetary-policy concerns.

The benchmark Nikkei 225 rose 17.96 to 51,325.61 as gaining issues outnumbered losers 176 to 48.

Leading the upside was semiconductor-manufacturing equipment maker Lasertec, up 21.2%, while Central Japan Railway declined 8.3%.

In economic news, the Bank of Japan held its key policy interest rate unchanged at 0.50%, citing modest economic growth and bank projections that inflation, now near 3%, will recede to within 2% next year.

In Hong Kong, the Hang Seng Index opened higher but declined to close off 0.2%, pulled lower by a sagging property sector, and a muted reaction to the Xi-Trump summit.

The broad gauge Hang Seng fell 63.45 to 26,282.69, as losing issues outnumbered gainers 63 to 24. The Hang Seng TECH Index lost 0.7% on the day, while the Mainland Properties Index fell 2.8%.

Leading the upside was aluminum producer China Hongqiao, gaining 8.2%, while smartphone components maker Sunny Optical Technology declined 4.8%.

On the mainland, the Shanghai Composite fell 0.7% to 3,986.90.

On the other regional exchanges, the S. Korean KOSPI rose 0.1%; the Taiwan TWSE was flat; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index fell 0.1%, and the Thai Set declined 0.1%. In late trading in Mumbai, the Sensex was down 0.7%.