Brandon Smialowski | AFP | getty images
The small-cap Kosdaq was down 2.61%. from japan Nikkei 225 fell 1.1% and Topix lost 0.13%. in Australia, S&P/ASX 200 A little had changed.
from hong kong Hang Seng Index Slipped 0.89% while the CSI 300 was flat. India’s Nifty 50 was up 0.2%.
The Kospi rose above 7,000 for the first time on May 5, when index heavyweight Samsung Electronics hit a record high and market capitalization surpassed $1 trillion.
The record-breaking streak comes amid concerns about concentration risks, especially in artificial intelligence stocks. Samsung Electronics and SK Hynix together held a record 42.2% stake in the Kospi in May, according to Manulife Investment Management.
Earlier gains in the South Korean market reflected investors’ optimism that Trump-Xi talks could ease tensions around trade and technology exports, especially for chipmakers and AI-related stocks.
Shares of Samsung Electronics fell more than 5% after its labor union said it would go ahead with its planned 18-day strike involving more than 45,00 workers through May 21, even though the company has proposed to resume wage talks without any preconditions.
The union said it is ready to return to talks after June 7.
Trump arrived in Beijing on Wednesday for a closely watched summit, which also included a delegation of US business leaders Tesla CEO Elon Musk and NVIDIA Major Jensen Huang.
Xi warned Trump on Thursday that Washington and Beijing could face “confrontation and even conflict” if the sensitive issue of Taiwan independence was mishandled.
Xi was quoted as saying that failure to handle the matter “properly” could “put the entire relationship in great danger”.
US stock futures were little changed Thursday night. dow futures Declined 10 points or 0.02%. S&P 500 futures 0.02% dip, and nasdaq 100 futures Increased by 0.06%.
All night long in America, Dow Jones Industrial Average later withdrew Rs 50,000 Cisco Systems Reported strong earnings. The 30-stock index closed 370.26 points, or 0.75%, at 50,063.46.
S&P 500 rose 0.77% to close at 7,501.24, while nasdaq composite rose 0.88% to 26,635.22. Those two indices achieved fresh all-time intraday highs and record closes.
— CNBC’s Justina Lee, Sean Conlon and Lisa Kailai Han contributed to this report
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