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Informist, Wednesday, May 6, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Markets in Asia gain as hopes for truce between US, Iran rise

 

MUMBAI--0820 IST--Stock markets in Asia rose Wednesday as hope of a ceasefire between the US and Iran increased. US President Donald Trump said great progress has been made in peace talks with Iran, and that he has put a pause on 'Project Freedom'. Brent Crude Oil futures slipped below $110 per barrel. South Korea's benchmark KOSPI hit a fresh record high.

 

"...the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time," Donald Trump wrote in a post on Truth Social. 

 

In South Korea, Samsung Electronics Co. crossed the $1 trillion mark in market capitalisation for the first time, driven upwards by a rally in artificial intelligence stocks. Shares of Samsung soared over 12% intraday, helping the KOSPI hit another record. The South Korean electronics company is the second Asian company after TSMC to join the $1 trillion club.

 

South Korea's headline inflation accelerated to a 21-month high of 2.6% on year in April. The latest inflation print was in line with what The Wall Street Journal polled. Inflation had risen 2.2% on year in March. Markets in Japan remained closed Wednesday.

 

The following were the levels of major Asian indices at 0819 IST:

 

Index	Level	Change in %
CSI 300 Index	4880.2224	1.52
Hang Seng Index	26054.01	0.60
KOSPI	7353.50	6.00
FTSE Singapore Strait Times	4922.84	0.05
S&P/ASX 200 INDEX	8784.50	1.20

 

(Ruchira Kagita)

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Informist, Wednesday, May 6, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Technology-driven rally pushes NASDAQ, S&P 500 to fresh highs

 

MUMBAI--0740 IST-- The NASDAQ and the S&P 500 touched new all-time-high levels Tuesday, driven by technology stocks. The rise was supported by robust earnings and developments in the artificial intelligence space. Rise in shares of Micron Technology, Intel Corp., Advanced Micro Devices, and SanDisk Corp. supported the NASDAQ. 

 

Advanced Micro Devices delivered a better-than-expected set of earnings for the quarter ended March. The company's revenue was $10.25 billion, higher than the $9.89 billion estimated, CNBC reported. For the June quarter, the chipmaker said it expects $11.2 billion in revenue, versus $10.52 billion expected. Shares of the company closed around 4% higher but surged about 15% in post-market trading. Shares of Intel Corp. zoomed over 11% intraday after Bloomberg reported that Apple Inc. was in discussions with Intel and Samsung Electronics Co. to produce the main processors for its US devices. 

 

"I think maybe perhaps people in the geopolitical world don't understand what's happening with the AI trade and earnings and how much of a buffer that is for S&P 500 EPS. So we're continuing to see rates of upward revisions that are positive on that AI-related trade," Lori Calvasina, the head of US equity strategy at RBC Capital Markets, told CNBC. Around 85% of the S&P 500 companies which reported earnings for the quarter ended March beat analysts' expectations, CNBC said. 

 

Meanwhile, on the macroeconomic front, the job openings in the US were unchanged at 6.9 million in March, while hires increased 3.5% to 5.6 million. In February, hiring in the US was at 3.1%. The data indicate that the labour market is getting stronger. 

 

The following were the closing levels of major US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	49298.25	0.73
NASDAQ Composite	25326.13	1.03
S&P 500	7259.22	0.81

 

(Ruchira Kagita)

 

US$1 = INR 95.28

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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