Precise Investors Editorial Team
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.3%, hovering near the record-high hit last week
Asian stocks rose on Thursday, powered by AI fervour that pushed SK Hynix to the brink of joining the trillion-dollar club, while the spotlight was firmly on a high-stakes summit between China’s President Xi Jinping and U.S.’ Donald Trump.
Trump received a grand welcome at Beijing’s Great Hall of the People on Thursday as he opened talks with President Xi, expected to focus on their fragile trade truce and flashpoints such as the Iran war.
Michael Strobaek, global chief investment officer at Lombard Odier, said preserving the status quo may be the most the Trump-Xi meeting can achieve.
I think that, amid the uncertainties around the Middle East ceasefire, that may be enough for now, said Strobaek, noting expectations are low and groundwork for any major diplomatic breakthroughs appears thin.
China’s blue-chip stocks eased 1% after hitting their highest level since late 2021 at the start of the session, while the yuan rose to a three-year high against the dollar as traders watched the headlines from the Xi-Trump meeting.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.3%, hovering near the record-high hit last week.
Nikkei was perched at a new all-time high with data showing AI-linked demand partly helped lift earnings for Japanese firms. KOSPI gave up its early gains to trade flat on the day.
SK Hynix, one of the biggest AI companies, is on the verge of reaching $1 trillion market cap, becoming the second South Korean firm after Samsung to break into the trillion-dollar club. SK Hynix stock is up more than 200% this year.
Comments (0)
Average Rating: No ratings yet/5 (0 reviews)
No comments yet. Be the first to comment!