{"id":61959,"date":"2026-05-14T23:38:30","date_gmt":"2026-05-15T03:38:30","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-and-xi-reach-new-consensuses-in-beijing-as-china-semiconductor-index-hits-record-high\/61959\/"},"modified":"2026-05-14T23:38:30","modified_gmt":"2026-05-15T03:38:30","slug":"trump-and-xi-reach-new-consensuses-in-beijing-as-china-semiconductor-index-hits-record-high","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-and-xi-reach-new-consensuses-in-beijing-as-china-semiconductor-index-hits-record-high\/61959\/","title":{"rendered":"Trump and Xi Reach \u201cNew Consensuses\u201d in Beijing as China Semiconductor Index Hits Record High"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Trump and Xi Jinping reached &quot;new consensuses&quot;<\/strong> during high-stakes talks at Beijing\u2019s <strong>Zhongnanhai compound<\/strong>, focusing on stabilizing trade and resolving the <strong>Iran conflict<\/strong>.<\/li>\n<li><strong>China\u2019s CSI Semiconductor Index surged over 8%<\/strong> to a fresh record high, fueled by aggressive domestic self-sufficiency goals and global <strong>AI computing demand<\/strong>.<\/li>\n<li><strong>The US Dollar Index (DXY) climbed above 99.00<\/strong> following strong economic data and a hawkish shift from the Federal Reserve, while the <strong>British Pound (<a href=\"\/stock\/GBP\">GBP<\/a>) fell toward 1.3350<\/strong> amid UK political instability.<\/li>\n<li><strong>China issued an urgent call for a &quot;swift settlement&quot;<\/strong> and a broad ceasefire in the Iran conflict, emphasizing the need to reopen the <strong>Strait of Hormuz<\/strong> to secure global energy flows.<\/li>\n<li><strong>Singapore Airlines (<a href=\"\/stock\/C6L\">C6L<\/a>) reported resilient flight demand<\/strong> and maintained expansion plans despite ongoing Middle East tensions, signaling robust recovery in the aviation sector.<\/li>\n<\/ul>\n<h2>Geopolitical Breakthroughs in Beijing<\/h2>\n<p>President <strong>Donald Trump<\/strong> reached the highly secure <strong>Zhongnanhai compound<\/strong> in Beijing on Friday for final meetings with Chinese leader <strong>Xi Jinping<\/strong>. State media reports indicate the two leaders reached <strong>&quot;new consensuses&quot;<\/strong> on critical issues including trade, technology, and the ongoing <strong>Iran war<\/strong>. Trump noted that Xi expressed a willingness to help negotiate an end to the conflict and facilitate the reopening of the <strong>Strait of Hormuz<\/strong>, a vital waterway for global oil supplies.<\/p>\n<p>Despite the diplomatic warmth, <em>underlying tensions remain<\/em> regarding <strong>Taiwan<\/strong>, with Xi reportedly warning against the &quot;Thucydides Trap&quot; and stressing that the island remains the most sensitive issue in bilateral relations. China\u2019s Foreign Ministry emphasized that all sides would benefit from an early deal in the Middle East, urging the swift restoration of diplomatic channels to achieve a lasting ceasefire.<\/p>\n<h2>Semiconductor Surge and Equity Markets<\/h2>\n<p>The <strong>CSI Semiconductor Index<\/strong> skyrocketed more than <strong>8%<\/strong> to an all-time record high on Friday. This massive rally was driven by <em>renewed optimism surrounding artificial intelligence<\/em> and strong signals from Beijing regarding domestic chip self-sufficiency. Investors are increasingly betting on Chinese tech firms as they race to meet a wave of orders from AI-related industries.<\/p>\n<p>In equity research, <strong>JP Morgan<\/strong> raised its target price for <strong>Burberry (<a href=\"\/stock\/BRBY\">BRBY<\/a>)<\/strong> to <strong>980p<\/strong> from <strong>950p<\/strong>, following the luxury brand&#39;s return to profit and a strategic pivot toward &quot;timeless British luxury.&quot; Meanwhile, in North America, the <strong>National Bank of Canada<\/strong> hiked its target for <strong>Quebecor Inc (<a href=\"\/stock\/QBR.B\">QBR.B<\/a>)<\/strong> to <strong>C$67<\/strong>, reflecting confidence in the company&#39;s growth trajectory.<\/p>\n<h2>Currency Volatility and Macroeconomic Trends<\/h2>\n<p>The <strong>US Dollar Index<\/strong> broke above the <strong>99.00<\/strong> threshold, supported by robust economic data and a perceived hawkish shift in <strong>Federal Reserve<\/strong> policy. Conversely, the <strong>British Pound<\/strong> declined to near <strong>1.3350<\/strong> as political uncertainty in the UK intensified. The resignation of high-profile cabinet members and speculation over leadership challenges have weighed heavily on <em>sterling sentiment<\/em>, even as hot inflation data complicates the <strong>Bank of England&#39;s<\/strong> interest rate path.<\/p>\n<p>In the bond market, <strong>South Korea<\/strong> successfully auctioned <strong>50-year government bonds<\/strong> at a yield of <strong>3.915%<\/strong>. In the aviation sector, <strong>Singapore Airlines (<a href=\"\/stock\/C6L\">C6L<\/a>)<\/strong> Chief Commercial Officer noted that demand remains resilient, with the CEO confirming that expansion plans are intact despite the volatile geopolitical backdrop in the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Trump and Xi Jinping reached &quot;new consensuses&quot; during high-stakes talks at Beijing\u2019s Zhongnanhai compound, focusing on stabilizing trade 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