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1h ago

Tech-Fueled US Records Divide Asian Markets With Oil Above $100

Rising energy costs collide with an AI boom to send investors in different directions.

Asia markets index of Japan, South Korea and Australia is seen on a screen at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, May 14, 2026. (AP Photo/Ahn Young-joon)
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 13, 2026. REUTERS/staff
A man walks in front of an electronic screen displaying Japan's Nikkei share average inside a conference hall in Tokyo, Japan, April 27, 2026. REUTERS/Issei Kato
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Overview

  • US stocks, which set fresh S&P 500 and Nasdaq records on Wednesday, climbed on chip and AI gains even after producer prices jumped by the most in years.
  • Investor focus shifted to Beijing on Thursday as the Trump–Xi summit offered a short-term lift to risk appetite, with traders scanning for signals on trade and technology.
  • South Korea’s KOSPI rebounded more than 2% to 7,844 on Wednesday’s close, led by Samsung and SK hynix, while the won weakened against the dollar.
  • India’s Sensex and Nifty rose more than 1% on Thursday after a recent slide, though foreign funds were net sellers on Wednesday and a weaker rupee and Brent near $105 kept pressure on the outlook.
  • Pakistan’s KSE-100 fell 1,465 points on Wednesday, then recovered by about 1,000 points early Thursday, with an IMF $1.3 billion inflow supporting sentiment but Middle East tensions and high oil driving sharp swings.