Trump-Xi Summit Kicks Off in Beijing as Asian Stocks Show Mixed Performance

• South Korea's margin debt has fallen to 33.4 trillion won, the lowest level since April, following a 30% drop in the Kospi index from its June peak. • The decline is driven by plunging tech shares, specifically Samsung and SK Hynix, leading JPMorgan to attribute the trend to widespread deleveraging.

• Asian stock markets advanced, led by Japan's Nikkei rising over 1% and a strong rebound in South Korean technology shares. • The rally was driven by easing crude oil prices and investors covering bearish semiconductor positions in anticipation of major U.S. technology earnings.

• The KOSPI rebounded for the first time in three days, recovering to the 6,700-point level following a period of strong adjustment caused by leverage liquidation. • This recovery was driven by an influx of low-priced buy orders and strong performance in the semiconductor sector, which also boosted markets in Taiwan and Japan.

• Investor sentiment improved during the Asia session on July 21, 2026, following reports of proposed international mediation for a temporary ceasefire in the Middle East. • The news eased immediate market concerns regarding potential energy supply disruptions, causing crude oil prices to retreat from their recent highs.

• South Korea's Kospi index surged 4%, led by a recovery in major chipmakers such as Samsung Electronics and SK Hynix. • This jump follows a severe market downturn where the index crashed 31% from its peak recorded in June.

• The KOSPI index rebounded following a global technology selloff that previously impacted AI-linked chipmakers. • The recovery comes after investors questioned the sustainability of high valuations, despite strong earnings reports from Taiwan Semiconductor Manufacturing Co.

• A new Harris Poll conducted exclusively for the Guardian reveals that 40% of Americans believe the stock market is designed only to benefit the top 1% of earners. • The survey focused on the investing habits and economic knowledge of U.S. citizens, highlighting a significant gap in perceived accessibility to financial markets.

• Scotiabank increased its price target for ATCO from C$70.00 to C$79.00 on July 21, 2026, maintaining a “sector perform” rating. • ATCO's shares were last traded at C$77.97, reflecting a market capitalization of C$7.87 billion and recent quarterly revenue of C$1.43 billion.

• National Australia Bank (ASX:NAB) experienced a decline in its share price as investors closely monitor the broader Australian banking sector. • The dip is attributed to external factors such as shifting interest-rate expectations, macroeconomic data, and general financial market sentiment.

• Wall Street indexes, including the Dow Jones, S&P 500, and Nasdaq, closed higher following a strong rebound in semiconductor stocks. • The market gains were driven by continued optimism surrounding artificial intelligence, which helped offset risks related to Middle East instability and tariff tensions.

• Bank of America (NYSE:BAC) is under scrutiny as the broader banking sector reports its latest earnings amid volatile market conditions. • The company's overall performance is being supported by key operational areas, including deposits, lending, consumer banking, and wealth services.

• Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan, has released top stock recommendations for July 21, 2026. • The recommended list includes Bank of India, Computer Age Management Services (CAMS), Bharti Airtel, and PFC.