By Ankur Banerjee<\/p>\n
SINGAPORE, May 14 (Reuters) – Stocks rose on Thursday, powered by AI fervour that pushed South Korea’s SK Hynix to the brink of joining the trillion-dollar club, while the spotlight was firmly on a high-stakes summit between U.S. President Donald \u200cTrump and China’s Xi Jinping.<\/p>\n
Trump heads into a series of meetings with China’s Xi in Beijing, aiming to secure economic wins, \u200cmaintain a fragile trade truce and navigate flashpoints such as the Iran war and arms sales to Taiwan.<\/p>\n
Michael Strobaek, global chief investment officer at Lombard Odier, said preserving the status \u200bquo may be the most a meeting between Trump-Xi meeting can achieve.<\/p>\n
“I think that, amid the uncertainties around the Middle East ceasefire, that may be enough for now,” said Strobaek, noting expectations are low and groundwork for any major diplomatic breakthroughs appears thin.<\/p>\n
STOCKS FLY ON AI<\/p>\n
In stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.2%, hovering near the record-high hit last week.<\/p>\n
Japan’s Nikkei was perched at a new all-time peak with data showing AI-linked \u200cdemand partly helped lift earnings for Japanese firms. Seoul’s \u2060KOSPI was 1.7% higher, taking its gains so far for 2026 to an eye-watering 88%.<\/p>\n
SK Hynix, one of the AI darlings in Asia, is on the verge of breaking through $1 trillion market cap, becoming the second South Korean \u2060firm after Samsung to break into the trillion dollar club. SK Hynix stock is up over 200% this year.<\/p>\n
European futures pointed to a strong open while U.S. stock futures was up 0.23%.<\/p>\n
Analysts though caution that the elevated oil prices and the impasse in negotiations to end the war in the Middle East could \u200bbring \u200binflationary worries back into view.<\/p>\n
“Markets are trying to run two playbooks at once: AI \u200band earnings says buy growth, but geopolitics and energy \u200cpriced are quietly re-writing the inflation trajectory in the background,” said Charu Chanana, chief investment strategist at Saxo.<\/p>\n
“While today\u2019s session may still follow the AI momentum, a macro reality check remains likely from the Trump-Xi meeting.”<\/p>\n
Brent crude futures were little changed at $105.76 a barrel in early trading, while U.S. West Texas Intermediate futures fetched $101.14 per barrel. Oil prices remain well above the pre-war levels, fanning inflation worries worldwide. [O\/R]<\/p>\n
DOLLAR GETS A LIFT FROM INFLATION DATA<\/p>\n
In currencies, the U.S. dollar was firmer as investors wagered the Federal Reserve’s next rate move would be a hike after hotter-than-anticipated inflation reports this \u200cweek.<\/p>\n
U.S. producer prices posted their biggest gain since early 2022, following Tuesday’s consumer price \u200bdata that showed annual inflation rose at its fastest pace in three years.<\/p>\n
Higher inflation \u200band stronger labour market data have led some traders to price \u200bin the prospect of a potential rate hike in the first half of next year even as many economists \u200cand analysts continue to see a rate cut as the \u200blikely next move by the U.S. \u200bcentral bank.<\/p>\n
The euro bought $1.1716, near its lowest in a week. Sterling was at $1.35282, leaving the dollar index, which measures the U.S. currency against six others, at 98.458 in early trading.<\/p>\n
The yen fetched 157.88 per U.S. dollar, keeping traders wary of fresh Tokyo intervention after \u200brecent sharp spikes that sources say were driven by \u200cofficials stepping in to prop up the battered currency. The two-year yield was at 3.9708%, down 1.9 basis points but near the \u200b1-1\/2-month high it hit in the previous session. The benchmark 10-year yield stood at 4.4629%, having touched close to a \u200bone-year high on Wednesday.<\/p>\n
(Reporting by Ankur Banerjee in SingaporeEditing by Shri Navaratnam)<\/p>\n","protected":false},"excerpt":{"rendered":"By Ankur Banerjee SINGAPORE, May 14 (Reuters) – Stocks rose on Thursday, powered by AI fervour that pushed…\n","protected":false},"author":2,"featured_media":483632,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[291,289,290,356,18,19,17,211572,80704,2428,82,3997],"class_list":{"0":"post-483631","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-donald-trump","12":"tag-eire","13":"tag-ie","14":"tag-ireland","15":"tag-michael-strobaek","16":"tag-sk-hynix","17":"tag-south-korea","18":"tag-technology","19":"tag-xi-jinping"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116570739508334837","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/483631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=483631"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/483631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/483632"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=483631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=483631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=483631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}