Asia Stocks Rise on AI Optimism as Trump-Xi Summit Brings No Surprises

Asian stocks climbed on Thursday as investor optimism around AI-powered companies continued to drive markets higher, while traders largely shrugged off tensions surrounding the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.

The two leaders opened a high-profile summit with talks focused on trade and geopolitical tensions. Xi said negotiations were progressing but warned that disagreements over Taiwan could damage relations between the world’s two largest economies. Despite the cautious tone, markets showed little reaction as investors awaited more concrete outcomes.

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European and U.S. stock futures moved higher, while Japan’s Nikkei 225 hit another record high, helped by strong demand for AI-related stocks. South Korea’s market also gained, with chipmaker SK Hynix continuing its rally as enthusiasm for artificial intelligence fueled tech shares across Asia.

Meanwhile, China’s yuan climbed to a three-year high against the dollar before easing slightly later in the session.

Investors also kept an eye on rising oil prices and persistent inflation concerns. Brent crude traded above $105 per barrel as tensions in the Middle East continued to pressure energy markets.

The U.S. dollar remained firm after stronger-than-expected inflation data increased expectations that the Federal Reserve could raise interest rates later this year. Treasury yields stayed near recent highs, while the euro and British pound weakened against the greenback.

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