Global Stock Market Trends — April 29, 2026

Global Indices at a Glance

Based on market closes April 28–29 local time. U.S. figures reflect April 28 (Tuesday) close or most recent data as of Korea time. For precise figures, Yahoo Finance is recommended.

🇰🇷 Korean Stock Market

KOSPI / KOSDAQ Overview

On April 29, KOSPI held steady around the 6,640 level. The index dipped to the 6,500 line early in the session but recovered to the 6,600 level as retail and institutional buying countered foreign investor selling pressure. On April 28, SK Hynix surged past the 1.3 million won mark on retail inflows (approximately 268.5 billion won), setting an intraday record high of 6,672.32. KOSDAQ also maintained the 1,200 level, extending its AI and semiconductor-led strength.

Supply and Demand Trends (April 29 session)

• Foreign investors: Continued net selling
• Institutions: Net buying (defensive)
• Retail: Net buying (~268.5 billion won, April 28 basis)

Today's Leading Sectors & Stocks

• SK Hynix: Reclaimed 1.3 million won level — retail inflow supported by AI memory optimism; set intraday record high
• Semiconductor and AI sector: Broad strength — After KOSPI cleared 6,700, domestic brokerages issued inaugural 8,500 target forecasts
• KOSPI total market cap: Maintains historic 6 quadrillion won breakthrough — AI and semiconductor rally sustains inflows of global capital

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🇺🇸 U.S. Stock Market

Big Three Close (April 28, Tuesday)

The S&P 500 and Nasdaq Composite retreated from all-time highs set the prior trading day. The Wall Street Journal reported that OpenAI's revenue growth and new user additions fell short of internal targets, triggering a broad selloff in semiconductor and AI-related stocks. Rising crude prices and lingering U.S.-Iran peace negotiation uncertainty also pressured investor sentiment. The UAE's hint at OPEC departure widened oil price volatility, fueling energy cost concerns. The Dow Jones Industrial Average also declined amid broad tech sector selling.

Key Moves Today (April 28)

• Semiconductor sector across the board: Sharp decline — WSJ report on OpenAI's slowing growth raised doubts about AI demand forecasts, triggering widespread chip stock selloffs
• Energy sector: Strength — Higher crude and UAE's OPEC exit hint widened oil volatility
• Big tech broadly: Watchful amid earnings — Large tech earnings this week emerge as a critical variable for market direction

Sector Trends

Energy led on rising crude and geopolitical concerns boosting crude supply worries. Information technology and semiconductors lagged as the OpenAI slowdown report fueled skepticism about the AI investment boom, concentrating selling pressure on chip stocks. Just one day after the S&P 500 and Nasdaq set all-time highs on April 27, the reversal occurred.

🌏 Asian and European Stock Markets

Asia (Japan, China, Hong Kong)

On April 28 (Tuesday), Asian markets showed mixed performance as tech rally expectations competed with caution. Hong Kong's Hang Seng fell 0.48% in late trading, while China's CSI 300 closed at 4,758.21, down 0.27%. South Korea's KOSPI maintained record levels, benefiting from the AI and semiconductor rally, though the OpenAI report cast a shadow over Asian tech stocks broadly. On April 29, Asian markets faced correction pressure in the wake of U.S. tech declines.

Europe (UK, Germany, France)

On April 27 (Monday), European markets rose modestly while monitoring U.S.-Iran peace talks stalled status. Iran offered to reopen the Strait of Hormuz and signaled willingness to delay nuclear negotiations, providing some relief to European equities. Rising oil prices and geopolitical uncertainty, however, capped upside.

📊 Today's Market Drivers

• OpenAI slowdown report: The Wall Street Journal reported OpenAI's revenue and new user growth fell short of internal targets, raising questions about AI infrastructure demand. This triggered a major selloff in semiconductor and chip stocks, forming the backbone of Nasdaq weakness.

• U.S.-Iran geopolitical uncertainty and rising crude: Iran proposed reopening the Strait of Hormuz, but the U.S. delegation cancellation sustained negotiation uncertainty. The UAE's OPEC exit hint also amplified oil volatility. Energy cost concerns weighed on corporate profit outlooks.

• Large tech earnings and Federal Reserve (FOMC) meeting ahead: This week brings concentrated releases from Meta, Microsoft, Amazon, Apple and others alongside the FOMC decision—a mega-event week. Reuters noted the "record-setting U.S. stock rally faces its test this week." 2026 earnings-per-share growth forecasts have risen from 16% at year-start to around 20% recently, lifting market expectations.

• KOSPI all-time high and 6 quadrillion won market cap breakthrough: After KOSPI cleared 6,700, domestic brokerages issued an inaugural 8,500 target. AI and semiconductor earnings optimism combined with global capital inflows underpin Korean market strength.

🔭 What to Watch Next

Key Events This Week

• U.S. Federal Reserve (FOMC) rate decision (scheduled this week): Jerome Powell's final meeting as chair possibility; focus on rate hold and forward guidance
• Big tech earnings: Meta, Microsoft, Amazon, Apple releases will be the watershed for AI spending and demand forecasts
• U.S. GDP and employment data: Critical economic figures for judging a soft landing
• U.S.-Iran talks progression: Monitor Strait of Hormuz reopening and nuclear negotiation progress for oil volatility
• Korean market foreign investor flow reversal: Whether foreign buying returns from selling will determine further upside potential

Investor Checklist

• Validate AI demand health: Determine if OpenAI slowdown is one-off or structural weakness signal
• Gauge Fed tone: Listen for rate-cut timing hints and post-Powell leadership uncertainty
• Track oil direction: Monitor Iran talks for energy sector and corporate cost structure shifts

💬 One-Liner Insight

This week, the AI earnings "promise" gets tested against "reality"—big tech results and Fed signals will determine whether the global bull run extends.