``` The AI boom boosts global stock markets, Nikkei 225 hits another record high, Tiger Brokers drops nearly 15% pre-market, US-Iran standoff pushes up oil prices. ```
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The AI technology stock rally boosts market sentiment, Asian stocks rise for two consecutive days, weekly gains recorded, U.S. and European stock indexes and futures simultaneously rise. The Middle East situation remains deadlocked, and oil prices climb.
On May 22, U.S. stock futures all rose, European stocks opened higher, Asian indexes were up across the board, with the Nikkei leading gains. The dollar and U.S. Treasury yields edged up, while the yen and won weakened. Brent oil jumped nearly 3%, returning above $105/barrel, gold and silver came under pressure.
The hot technology stock rally drives the market, SoftBank Group surged 11% on the Tokyo stock exchange. Since the beginning of the year, capital has continued to flow into companies seen as key suppliers for global AI expansion, pushing the tech sector to new highs and successfully offsetting disruption from Middle East tensions, helping stock markets hit fresh records.
On the geopolitical front, U.S.-Iran nuclear talks remain stalled. Overnight, Trump reiterated "Iran will never be allowed to have nuclear weapons" and said America would ultimately obtain Iran's enriched uranium. Earlier, Xinhua cited foreign media reports that Iran's supreme leader has ordered that enriched uranium must not be exported out of the country.
Bloomberg strategist David Savage said that amid moderate volatility and robust U.S. economic growth, any sign of accelerating AI demand will provide continued structural support for related technology stocks.
The main market movements are as follows:
S&P 500 futures up 0.3%, Nasdaq 100 futures up 0.4%.
Euro Stoxx 50 opened up 0.9%, Germany DAX up 0.7%, UK FTSE 100 up 0.4%, France CAC 40 up 0.7%.
Nikkei 225 closed up 2.7%, at 63,339.07 points. TOPIX closed up 1%, at 3,892.46 points. Korea Seoul Composite up 0.4%, at 7,847.71 points.
10-year U.S. Treasury yield roughly flat at 4.57%.
USD/JPY at 159.08.
Spot gold dropped 0.3% to $4,529.95 per ounce. Spot silver fell 1% intraday to $75.81/ounce.
Bitcoin down 0.1% to $77,553.01.Ethereum down 0.3% to $2,130.76.
U.S. stock futures rise, market awaits Fed officials' speeches
Technology stocks boost U.S. stock futures. As AI applications accelerate and drive expanding hardware demand, market focus has widened from chips to shortages of memory chips and advances in robotics technology.
Franklin Templeton stock portfolio manager Jonathan Curtis says, "This is a very exciting time. We are overall bullish about this sector, and the market has not yet fully reflected downstream development trends." He added that incorporating AI technology into business may lead to improved corporate performance.
The market is also focusing on Fed moves. According to Xinhua, Kevin Walsh will take oath as U.S. Federal Reserve Chair on May 22 local time. Also, Fed Governor Waller will deliver a speech.
Ahead of the U.S. market open, Tiger Brokers fell nearly 15%, Futu Holdings dropped over 8%. According to Xinhua, on May 22, the China Securities Regulatory Commission announced that Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Longbridge Securities (Hong Kong) Limited engaged in illegal cross-border operations, violating China's securities, fund, and futures laws and regulations. The authorities plan to confiscate all illegal gains from Tiger, Futu, Longbridge domestic and overseas entities, and impose severe penalties according to law.
With the State Council's approval, the China Securities Regulatory Commission and seven other departments jointly issued an "Implementation Plan for Comprehensive Rectification of Illegal Cross-border Securities, Futures, and Fund Operations," specifying that after two years of intensive rectification, all illegal cross-border operations by overseas securities, futures, and fund business entities are to be fully eliminated.
Tech stocks boost Nikkei 225 to new closing high, yen under pressure
Japanese stocks closed strongly, led by tech stocks. The Nikkei 225 index rose by 1,654.93 points to 63,339.07, marking a new closing high; the TOPIX index gained 38.65 points to 3,892.46. Currently, tech stocks represented by AI-related shares continue to be the main drivers of gains.
SoftBank Group extended gains, up another 11.88% on the 22nd, after nearly 20% rise in the prior session. Fueled by expected growth in AI demand, wires, electronic components, and "physical AI" concept stocks all showed notable strength.
Japan's inflation slows, yen hovers around 159 vs. the dollar, near its lowest since April 30. Data released Friday showed that Japan's April core consumer prices rose 1.4% year-on-year, a four-year low, mainly due to government tuition subsidy policy effects.
Traders are closely watching the risk of currency intervention, especially wary of low liquidity due to holidays next Monday potentially opening a window for action. U.S. stocks will be closed for Memorial Day, as will Hong Kong and Korean stocks for holidays.
U.S.-Iran standoff, oil prices rise
The uncertain outlook in the Middle East pushes oil prices higher, Brent crude up nearly 3%.
In Asian trading today, news flow regarding the Middle East was calm; previously mentioned draft has not yet been released. During U.S. trading overnight, Wallstreetcn reported that according to Iranian media citing Middle East sources, with mediation from Pakistan, the final draft of the U.S.-Iran deal has been reached and is expected to be announced within hours. Later in U.S. trading, Iran's president said Iran will "never back down" and "will not be conquered by missiles, bombs, or warplanes."
In the U.S., the House of Representatives postponed a vote on restricting Trump's authority to use force against Iran. According to Xinhua, the Republican leadership in the House decided on the 21st to postpone a vote on a bill that would limit President Trump's authority to use force against Iran, prompting protests from Democrats. U.S. media reported that the Republican leadership, considering some absent party members and defections, found it difficult to defeat the Democrats' bill and decided to delay the vote to June.
Pepperstone Group research director Chris Weston said: “Continued attention is needed in this area, but the news flow is gradually moving toward more practical directions, and the market may soon get clearer pricing cues.”
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