Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between US dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea on Oct 14. (AP)

TOKYO, Oct 14, (AP): Asian shares were trading mixed on Tuesday after a rally on Wall Street spurred by U.S. President Donald Trump’s reassurances over relations with China. Japan’s benchmark Nikkei 225 slipped 1.4% to 47,419.87, as trading resumed following a national holiday Monday. In Hong Kong, the Hang Seng lost 0.4% to 25,788.44, while the Shanghai Composite edged up 0.2% to 3,897.56. “Don’t worry about China,” Trump said on his social media platform Sunday.

He also said that China’s leader, Xi Jinping, “doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!” On Friday, the S&P 500 tumbled to its worst drop since April after he accused China of ” a moral disgrace in dealing with other Nations.” He also threatened much higher tariffs on Chinese goods.

Still, the status of trade talks between the two biggest economies remains unclear. Despite harsh rhetoric and fresh retaliatory moves on tariffs and export controls, Trump said he still may meet with Chinese leader Xi Jinping later this month on the sidelines of a regional summit. Australia’s S&P/ASX 200 edged 0.1% lower to 8,876.20. South Korea’s Kospi gained 0.6% to 3,605.10. The S&P 500 jumped 1.6% in its best day since May, closing at 6,654.72.

It recovered just over half its drop from Friday. The Dow Jones Industrial Average climbed 1.3% to 46,067.68, and the Nasdaq composite leaped 2.2% to 22,694.61. The down-and-up moves for the market echoed its manic swings during April, when Trump shocked investors with his “Liberation Day” announcement of worldwide tariffs.

He eventually relented on many to give time to negotiate trade deals. “After the sharp lurch in US equities on Friday – the worst since the “Liberation Day” tariff shock – markets have delivered a relief rebound – arguably regaining confidence even,” Mizuho Bank said in a commentary. Trump’s wavering on tariffs has helped stocks soar since April.

So have expectations for several cuts to interest rates by the Federal Reserve to help the economy. Critics say the market now looks too expensive now after prices rose much faster than corporate profits. Worries are particularly high about companies in the artificial-intelligence industry, where pessimists hear echoes of the 2000 dot-com bubble that imploded. 

KUWAIT CITY, Oct 13: The Central Agency for Public Tenders (CAPT) has approved the request of the Ministry of Public Works to set Oct 27 as the date for negotiating prices with the four companies bidding for the establishment of entrances and exits at Jaber Al-Ahmad City. CAPT decided during its meeting last Wednesday. All bidders have been required to include detailed price and quantity tables in their bids. The agency excluded two companies for not meeting the conditions and specifications, and the bidding process closed on Feb 18.

The project includes the establishment of entrances and exits in two locations in Jaber Al-Ahmad Residential City — one is the southern entrance and exit linking to Jahra Road, and the other is the eastern entrance and exit linking to Doha Road. It is worth noting that the ministry has been holding negotiation sessions with the winning companies to determine the best and most cost-effective bid.

By Mohammad Ghanem Al-Seyassah/Arab Times Staff

KUWAIT CITY, Oct 13: As part of the State’s efforts to regulate the ownership of investment and commercial real estate and ensure balance between attracting foreign investment and preserving the privacy of the local market, Decree No. 195/2025 on the controls for real estate ownership by companies, real estate funds, and investment portfolios was issued. This is in implementation of the provisions of Decree-Law No. 74/1979 regulating real estate ownership by non-Kuwaitis. Article One of the decree, which was published in ‘Kuwait Al-Youm’ recently, stipulates that subject to the provisions of the aforementioned law, companies with non-Kuwaiti partners and listed on licensed stock exchanges in Kuwait, as well as real estate funds and investment portfolios licensed by the competent authorities, may own real estate within the country, subject to specific controls. The decree indicates that one of the basic conditions is that the purpose of the company, fund or portfolio must include dealing in real estate.

It prohibits any form of dealing in real estate, plots or land designated for private housing in any location or within any project, in a move aimed at protecting the residential character and preventing speculation in this vital sector. Article Two of the decree clarifies that its provisions do not prejudice the right of entities subject to the supervision of the Central Bank of Kuwait or others to own real estate in accordance with the law. It affirmed that citizens of the Gulf Cooperation Council (GCC) countries shall continue to be treated the same as Kuwaitis regarding ownership of land and built property in the State of Kuwait. Article Three states that the ministers—each within their respective jurisdiction—shall be responsible for implementing the provisions of the decree, which shall take effect from the date of its publication in the official gazette.

By Marwa Al-Bahrawi Al-Seyassah/Arab Times Staff