Global Market

Asia Markets Today | May 18: Japan's Nikkei 22 lost 0.2%, while the Topix added 0.1%. South Korea's Kospi and small-cap Kosdaq benchmarks fell more than 2%.

Nifty Realty fell the most, down about 2.14%, followed by Auto, PSU Bank, and Bank indices which declined over 1.5%. Nifty IT was the only sector to gain, rising around 0.6%.

Japanese PM Sanae Takaichi has requested the finance ministry to prepare a supplementary budget to address rising commodity prices amid the Middle East conflict.

Brent crude advanced above $110 a barrel after gaining nearly 8% last week, while West Texas Intermediate approached $107.

The United States has failed to offer any concrete concessions, in response to Iran's proposed agenda for ending the war, Tehran's semi-official Mehr news agency reported.

A trade thaw, a fuel price hike and a tighter fiscal tone — three signals, one larger story.

The wider index S&P 500 opened 1% lower at 7,431.36.

Indian officials are understood to have flagged that the revised quota framework could dilute expected gains for Indian steel exporters under the trade pact and create uncertainty for shipments just as businesses prepare for the agreement's rollout.

Rupee opened at Rs 95.72against the US dollar, marginally weaker from its previous close.

South Korea's stock market has surged 200% in a year, driven by AI chipmakers, record retail trading, and a surge in margin borrowing, making the Kospi the world's most volatile major index.

External Affairs Minister S. Jaishankar on Thursday called for deeper cooperation within BRICS, saying the grouping has an increasingly important role to play as geopolitical tensions, economic uncertainty and supply-chain disruptions reshape the global landscape.

Brent, the global crude benchmark, held losses from the prior session, trading around $105.65 per barrel. The dollar hovered near gains from the three previous days.

Asian stocks rose following a surge in US tech shares, with Nasdaq futures up after Cisco's strong outlook. Chinese equities hit highs not seen since 2021 amid Trump-Xi summit anticipation.

Get the latest updates on the Nifty, Sensex and the market movers here.

ACI estimates the war has cost major Middle East airports lost revenue of about $1 billion in March and April, as well as a 52% reduction in freight being flown.

Brent crude traded near $107 a barrel, while West Texas Intermediate hovered around $102.

Japan's Topix bucked the broader weakness to rise 0.4%, while Australia's S&P/ASX 200 fell 0.6%. Hang Seng futures were little changed, pointing to a muted start in Hong Kong.

Technology stocks were the biggest laggards after weeks of outsized gains, with heightened risks around geopolitics and inflation adding another level of uncertainty for markets already contending with elevated valuations.

Silver continues to display relative strength compared to gold, supported by both safe-haven flows and industrial demand expectations linked to renewable energy and electrification themes.

South Korea's proposal to share AI-driven economic gains with citizens rattles markets and revives debate over wealth concentration in the artificial intelligence era.