Chinese President Xi Jinping (Republican) and US President Donald Trump will visit the Temple of Heaven in Beijing on May 14, 2026. The solemn opening salvo of a superpower summit to tackle a host of thorny issues began in Beijing on May 14, with Xi warning Trump that the Taiwan issue could push the two countries into “conflict” if mishandled. (Photo by: Brendan SMIALOWSKI/POOL/AFP via Getty Images)
Brendan Smialowski AFP | Getty Images
South Korea’s benchmark Kospi index gave up gains and fell more than 6% on Friday, retreating from new record highs, weighing on large-cap tech stocks amid broader declines in Asia-Pacific markets.
The Kospi index topped 8,000 in early trading and ended at 7,493.18. The small-cap Kosdaq fell more than 5% to close at 1,129.82.
The decline follows a record streak for the Kospi, raising concerns about concentration risk, particularly in artificial intelligence stocks. According to Manulife Investment Management, Samsung Electronics and SK Hynix together account for a record 42.2% of Kospi.
Samsung Electronics stock price fell 8.6% after the union announced plans for an 18-day strike involving more than 45,000 employees starting May 21, despite Samsung Electronics offering to resume wage negotiations without preconditions. The union has indicated its intention to return to negotiations after June 7th. SK Hynix’s stock price fell 7.6%.
Other Asian markets also fell as investors focused on the second day of a high-stakes meeting between US President Donald Trump and Chinese President Xi Jinping. President Trump left Beijing on Friday after a two-day summit, which was also attended by a delegation of American business leaders, including: tesla CEO Elon Musk and Nvidia Commissioner Jensen Huang.
Japanese Nikkei Stock Average fell 2% to 61,409.29, and TOPIX fell 0.39% to 3,863.97.
In Australia, S&P/ASX 200 It fell 0.11% to 8,630.8.
hong kong Hang Seng Index It was down 1.6% at the close of trading, with mainland China’s CSI300 index down 1.12% to 4,859.59.
Precious metals are also sold, spot gold Prices fell 1.43% to $4,583.02 per ounce. silver Prices fell more than 5% to $79.07 per ounce.
Mr. Xi warned Mr. Trump on Thursday that the United States and China could face “conflict and even conflict” if the sensitive issue of Taiwan’s independence is mishandled.
Xi said that failure to address the issue “appropriately” could “put the entire relationship at great risk.”
U.S. stock futures were almost unchanged Thursday night. dow futures It fell 10 points (0.02%). S&P500 futures It fell by 0.02%. Nasdaq 100 futures It rose by 0.06%.
One night in America Dow Jones Industrial Average I later got my 50,000 back. Cisco Systems reported strong earnings. The 30-stock index rose 370.26 points (0.75%) to close at 50,063.46.
of S&P500 It rose 0.77% to close at 7,501.24. Nasdaq Composite It rose 0.88% to 26,635.22. These two indexes hit new intraday highs and new closing records.
—CNBC’s Justina Lee, Sean Conlon and Lisa Kailai Han contributed to this report
