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Informist, Friday, May 29, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Asian indices rise as sentiment up on hopes of US-Iran deal

 

MUMBAI--0822 IST--Stock markets in Asia cheered reports of the US and Iran working on a memorandum of understanding for a 60-day extension of the ceasefire. Media reports suggested that US President Donald Trump was yet to sign the agreement. Brent crude oil futures slipped more than 5% lower from Thursday's highs to around $93 per barrel. Almost all indices in the region were firmly higher except those in China. The country's SSE Composite displayed a negative bias while the CSI 300 was flat. 

 

US Vice-President J.D. Vance said both Washington and Tehran were going back and forth on some issues, including that of Iran possessing enriched uranium, the BBC reported. "We're not there yet, but we're very close and we're going to keep on working at it," Vance said. 

 

In South Korea, the benchmark KOSPI gained over 2% in early hours of the session. Among the key stocks was LG Electronics. Shares of LG Electronics shot up 26?ter the company announced a series of automotive innovations built using Google's technology. "The solution supports automakers to significantly reduce the cost of deploying multi-display in-cabin systems," CNBC reported LG Electronics as saying.

 

Meanwhile, the rate of unemployment in Japan fell to 2.5% in April from 2.7% in March. This is the lowest rate reported since July 2025. Those newly seeking jobs fell 10.9% to 490,000 in the previous month and the country's labour force participation rate rose to 64.4% from 63.6% in March. 

 

Following were the levels of major Asian indices at 0822 IST:

 

Index	Level	Change in %
CSI 300 Index	4930.5839	0.33
Hang Seng Index	25108.20	0.41
Nikkei 225 Day	65896.57	1.86
TOPIX FIRST SECTION	3953.48	1.32
KOSPI	8355.68	2.08
FTSE Singapore Strait Times	5018.82	0.59
S&P/ASX 200 Index	8681.80	1.03

 

(Ruchira Kagita)

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Equity Alert: US indices end higher Thu; NASDAQ, S&P 500 hit new highs again

 

MUMBAI—0740 IST--Wall Street ended on a strong note Thursday. The NASDAQ Composite and the S&P 500 posted new all-time-highs, while the Dow Jones Industrial Average closed marginally higher. Investors were buoyed by reports of the US and Iran reaching a 60-day memorandum of agreement for a ceasefire. The deal, however, requires US President Donald Trump's approval, some media agencies reported, citing sources. 

 

Among the key stocks was Microsoft. Shares of the technology major advanced more than 3% on reports of the company unveiling a new coding model in the coming week. Shares of drugmaker Eli Lilly closed more than 4% higher after CVS Health Corp. said it would restore coverage of Eli Lilly's blockbuster weight loss injection Zepbound, according to CNBC. 

 

"Traders are on a hair trigger with the back-and-forth on deal news, and have been leaning long to avoid getting trampled by a better-than-expected outcome. The harder part is that the inflationary forces may not abate as fast as markets want," Jamie Cox, managing partner at Harris Financial Group, told Reuters. 

 

US GDP expanded 1.6% on year in the quarter ended March. The figure was revised 0.4% lower from the first estimate mainly on account of investment and consumer spending. Government spend and exports went up during the quarter. The Wall Street Journal and Reuters had expected the US economy to grow 2% on an annualised basis. Meanwhile, the US Personal Consumption Expenditures index rose 3.8% on year in April. The core personal consumption expenditures index, however, went up 3.3% on year. The inflation figures remain well above the Federal Reserve's 2% target. 

 

"Price pressures are likely to persist over the next few months, and while the Fed cannot fix a supply shock, it cannot ignore one that is feeding into underlying inflation," Olu Sonola, head of US economics at Fitch Ratings, told Reuters. 

 

Following were the closing levels of major US indices Thursday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50668.97	0.05
NASDAQ Composite	26917.471	0.91
S&P 500	7563.63	0.58

 

(Ruchira Kagita)

 

US$1 = INR 95.69

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

 

Edited by Avishek Dutta

 

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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