Asian markets mixed as investors track Trump-Xi summit and oil price surge

Asian shares traded mixed on Thursday, with Chinese equities falling while other regional markets posted gains, as investors reacted to outcomes from US President Donald Trump’s meeting with Chinese leader Xi Jinping in Beijing.

Trump met Xi at the Great Hall of the People, where the two leaders discussed US-China relations and Taiwan. Analysts said they did not expect major breakthroughs from the talks, though markets closely monitored any signals on trade and geopolitical tensions, News.Az reports, citing The Associated Press.

In regional trading, Japan’s Nikkei 225 fell 1% after briefly hitting a new intraday record earlier in the session, supported by strong corporate earnings and optimism linked to technology stocks. South Korea’s Kospi rose 1.8% to a record high, driven by gains in artificial intelligence-related shares.

China’s Shanghai Composite index dropped 1.5%, while Hong Kong’s Hang Seng edged slightly higher. Australia’s S&P/ASX 200 posted a small gain, and Taiwan’s Taiex and India’s Sensex also rose.

Oil prices moved higher amid ongoing uncertainty over the Iran conflict, which has continued for more than two months. Brent crude rose slightly, while US benchmark crude also advanced. Prices remain significantly higher than before the conflict began, with supply disruptions continuing to weigh on global markets.

Investors also focused on developments in the technology sector, including potential updates on China’s imports of advanced semiconductor chips from Nvidia. Several major US technology executives, including Tesla’s Elon Musk and Apple’s Tim Cook, accompanied Trump on his China visit.

On Wall Street, major indexes reached fresh records on Wednesday, led by gains in technology stocks. Treasury yields edged slightly lower, while US wholesale prices increased in April due to energy-related pressures linked to the Iran conflict.

Currency markets showed limited movement, with the US dollar steady against the euro and slightly stronger against the Japanese yen.

News.Az 

By Leyla Şirinova