Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
Dollar Surges as Inflation Data Fuels Fed Rate Hike Expectations 
Trump Pushes China Market Access During High-Stakes Xi Summit 
OECD Sees Bank of Japan Raising Interest Rates to 2% by 2027 
Trump Faces Uphill Battle Seeking China’s Help on Iran Conflict 
Australia Housing Tax Reform Sparks Debate Over Property Investor Tax Breaks 
Gold Prices Steady Ahead of Trump-Xi Meeting as Inflation and Oil Concerns Persist 
Trump Says Iran Ceasefire ‘On Life Support’ as Oil Prices Surge Above $104 
Trump and Xi Temple of Heaven Visit Highlights Trade and Diplomacy Goals 
Japan Considers Extra Budget Aid Amid Rising Fuel and Utility Costs 
Asian Currencies Slide as Indian Rupee Hits Record Low Amid Iran Tensions 
Asian Currencies Hold Steady as Strong U.S. Inflation Data Boosts Dollar 
New Zealand Budget 2026 Focuses on Fiscal Discipline and Infrastructure Investment 
Rubio Discusses Iran Crisis and Strait of Hormuz Disruptions With UK and Australia 
Asian Stocks Edge Higher as Tech Shares Rise Ahead of Trump-Xi Beijing Summit 
US, Japan Reaffirm Strong Currency Coordination Amid Yen Volatility 
Oil Prices Hold Above $100 as Trump-Xi Meeting and Iran Conflict Keep Markets on Edge 
Asian stock markets declined sharply on Wednesday as investors pulled back from technology and semiconductor stocks ahead of Nvidia’s highly anticipated quarterly earnings report. The cautious mood followed another weak session on Wall Street, where major U.S. indexes closed lower for a third consecutive day amid growing concerns over elevated valuations in the artificial intelligence sector.
Japan’s Nikkei 225 dropped 1.5%, while the broader TOPIX index lost 1.7% as technology stocks faced heavy selling pressure. South Korea’s KOSPI index led regional losses, falling more than 2.5%. Samsung Electronics shares erased earlier gains and slid over 4% after wage negotiations between the company and its labor union reportedly collapsed. According to Yonhap News Agency, the union plans to begin a strike on Thursday, May 21, increasing uncertainty around the tech giant’s operations.
Investor sentiment remained fragile as rising global bond yields continued to pressure growth and semiconductor stocks that previously fueled the AI-driven market rally in 2026. Market participants are closely watching Nvidia’s earnings release for insight into future artificial intelligence spending trends, with some analysts warning that expectations for AI-related stocks may have become overly optimistic after strong gains earlier this year.
Oil prices also stayed elevated above $110 per barrel despite a slight pullback after U.S. President Donald Trump announced a delay in a planned military strike on Iran. However, Trump warned that military action remains possible if diplomatic negotiations fail, keeping geopolitical risks and inflation concerns in focus for global investors.
In China, the People’s Bank of China kept its benchmark loan prime rates unchanged for the twelfth consecutive month. The one-year LPR remained at 3.00%, while the five-year LPR stayed at 3.50%, matching market forecasts. Chinese equities continued to weaken as investors worried about sluggish domestic demand and ongoing problems in the property sector. The Shanghai Composite slipped 0.5%, while Hong Kong’s Hang Seng Index fell 1.1%.
Elsewhere in Asia, Australia’s ASX 200 dropped 1.2%, Singapore’s Straits Times Index lost 0.8%, and India’s Nifty 50 futures declined 0.5% as investors awaited the latest Federal Reserve meeting minutes for clues on future U.S. interest rate policy.
