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Informist, Friday, May 15, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Asia indices fall, KOSPI down 4%; focus stays on Trump-Xi meet

 

MUMBAI--0835 IST--Indices in Asia were lower as market participants remained watchful of the meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing. The talks between Washington and Beijing signalled a step in the right direction, according to media reports.

 

"China and the US are fully capable of and should continue to be friends and partners, helping each other succeed and achieving shared prosperity," Bloomberg quoted Chinese Premier Li Qiang as saying. The top American executives, including Elon Musk, Jensen Huang, and Tim Cook, told the Chinese president they hoped to boost cooperation and business in China, according to the media agency.

 

Meanwhile, Trump said that China will purchase oil from the US. "...they're going to go to Texas, we're going to start sending Chinese ships to Texas and to Louisiana and to Alaska," Trump told Fox News in an interview, CNBC reported. There is no response from China on this comment yet. Brent Crude oil futures, however, were over 1% higher at nearly $107 per barrel.

 

In some stock market-related action, South Korea's benchmark KOSPI was sharply lower by 4% even as the index notched a fresh record high during the start of the trading session Friday. The KOSPI briefly breached past the 8000 mark before slipping into the red. Shares of heavyweights Samsung Electronics Co. and SK Hynix tumbled over 4% and 3%, respectively. The South Korean benchmark index rallied 1000 points in eight sessions despite the strife between the US and Iran escalating.

 

The following were the levels of major Asian indices at 0833 IST:

 

Index	Level	Change in %
CSI 300 Index	4897.5504	(-)0.35
Hang Seng Index	26122.40	(-)1.01
Nikkei 225 Day	61849.81	(-)1.28
TOPIX FIRST SECTION	3864.90	(-)0.37
KOSPI	7731.65	(-)3.13
FTSE Singapore Strait Times	4984.42	(-)0.23
S&P/ASX 200 Index	8630.80	(-)0.11

 

(Ruchira Kagita)

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Equity Alert: US indices end on strong note; S&P 500, NASDAQ hit new highs

 

MUMBAI--0750 IST--US Indices ended Thursday on a strong note. The S&P 500 and NASDAQ Composite notched fresh record highs for the second consecutive session, and the Dow Jones Industrial Average closed above 50000 for the first time in a little over two months. While technology stocks continued to drive indices higher, market participants were also buoyed by positive signals from the crucial meeting between US President Donald Trump and Chinese President Xi Jinping. 

 

"American enterprises are deeply involved in China's reform and opening up, a process from which both sides have benefited," Bloomberg quoted the Chinese leader as saying, citing China Central Television. "China's door to the outside world will only open wider," Xi said. 

 

Among some key individual movers was Cisco. The company's shares surged after it reported strong earnings for the quarter ended April. Orders linked to artificial intelligence infrastructure from hyperscalers rose to $5.3 billion till April, already surpassing its full-year guidance of $5.0 billion. The company also raised its sales forecast for the full year ending July, and it expects revenue to be between $62.8 billion and $63.0 billion. The company earlier guided for revenue to be in the range of $61.2 billion–$61.7 billion. Shares of Cisco closed over 13% higher.

 

In macroeconomic news, advance estimates of US retail sales rose 0.5% on month to $757.1 billion after a downwardly revised 1.6% jump in March. On a yearly basis, retail sales were up 4.9%. Receipts at gasoline stations increased 2.8% on month after posting a 13.7% surge in March. 

 

"The powerful equity market rally is supporting spending on the upper leg of the K-shaped expansion, more than offsetting any pullback from those on the lower leg who are struggling with higher fuel, transportation and food costs," Sal Guatieri, a senior economist at BMO Capital Markets, told Reuters. 

 

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

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50063.46	0.75
NASDAQ Composite	26635.22	0.88
S&P 500	7501.24	0.77

 

(Ruchira Kagita)

 

US$1 = INR 95.76

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

 

Edited by Saji 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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