Asian stock markets closed mixed! KOSPI surged more than 8% on Samsung's labor deal, while Chinese and Hong Kong stocks fell sharply.

Asian stock markets closed mixed today (May 21, 2569), with Japanese and South Korean markets surging, driven by tech stocks and positive sentiment regarding US-Iran negotiations. Meanwhile, Chinese and Hong Kong markets fell amid profit-taking and concerns about the outlook for the Chinese economy.

Japanese stock market

The Nikkei index surged more than 3% following strong Japanese trade data, with April exports showing their fastest growth this year, driven by semiconductor exports. Meanwhile, technology stocks saw brisk buying following strong earnings from Nvidia, with SoftBank shares soaring nearly 20%, boosting investor sentiment.

• The Nikkei closed at 61,684.14, up 1,879.73 points, or +3.14%.

Chinese stock market

The Shanghai Composite Index plunged more than 2% after morning buying slowed as investors sold off risk-averse assets. While the atmosphere surrounding US-Iran negotiations provided some support to risky assets, the market remained pressured by domestic economic concerns and global trade prospects.

• The Shanghai Composite Index closed at 4,077.28, down 84.91 points, or -2.04%.

Hong Kong Stock Market

The Hang Seng Index closed lower for the second consecutive day, as investors sold off technology and large-cap Chinese stocks after the market was disappointed by the pullback in mainland Chinese indices. In addition, investors are closely watching the direction of trade negotiations between President Donald Trump and President Xi Jinping.

• The Hang Seng Index closed at 25,386.52 points, down 264.60 points or -1.03%.

South Korean stock market

KOSPI surged more than 8%, leading the Asian market, following strong gains from Samsung Electronics and SK hynix. Samsung jumped over 8% after avoiding a major labor strike due to progress in wage negotiations, while SK hynix climbed over 11%, boosted by the AI ​​trend and strong demand for chips.

• The South Korean Composite Stock Price Index (KOSPI) closed at 7,815.59 points, up 606.64 points or 8.42%.

refer : www.cnbc.com

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