AI Drives SK Hynix to Trillion-Dollar Brink Amid Global Economic Tensions

On Thursday, stocks surged, fueled by the excitement surrounding artificial intelligence, propelling South Korea's SK Hynix toward a trillion-dollar market valuation. The focus was also on a critical summit between U.S. President Donald Trump and China's Xi Jinping.

President Trump is engaging in a series of key meetings with Xi in Beijing, aiming for economic achievements, sustaining a delicate trade truce, and addressing issues such as the Middle East conflict and arms sales to Taiwan. Michael Strobaek of Lombard Odier noted that merely preserving the status quo might be the best outcome from the Trump-Xi dialogue.

Analysts remain cautious, highlighting risks such as rising oil prices and the unresolved conflict in the Middle East, which could rekindle inflation concerns. The AI momentum continues to drive stock markets, but a macroeconomic reality check from the Trump-Xi meeting is anticipated to impact market dynamics.

(With inputs from agencies.)