World leaders eye Trump-Xi Beijing summit from afar

President Donald Trump's state visit to Beijing from May 13 to 15 is drawing close attention in capitals worldwide. His meeting with Chinese counterpart Xi Jinping will cover the Iran war, the Taiwan Strait and navigation safety at Hormuz. Leaders from Singapore to Brussels and Tokyo are recalibrating their own positions based on the summit's likely outcome.

Officials in Ankara, Berlin, Riyadh and New Delhi are weighing how the meeting could shape future tariff and export-control deals. China's curbs on rare-earth exports and Washington's semiconductor sanctions remain the headline items on the table. According to CNBC, the European Union is preparing to analyse downstream effects in steel, autos and technology sectors.

A joint communique is not expected after the talks. Still, the first in-person meeting between the two leaders in years is being treated as a market-moving signal. Investors point to the yuan touching a three-year high and the KOSPI's record close as evidence of summit optimism. Analysts warn that any flare-up would weigh on crude oil and technology shares in the days that follow.