Global market brief · 2026-05-25

TSM leads the AI semiconductor repair while U.S. markets are closed.

Taiwan’s market and Hyperliquid stock perps are repricing TSM, NVDA and MU higher after NVIDIA’s strong AI guide. But Memorial Day means the move still needs U.S. cash-market confirmation.

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Updated: 2026-05-25Theme: TSM repair vs U.S. holidayCoverage: Taiwan semis, HL perps, BTC, oil, rates
Top view

AI semiconductors are recovering. TSM is the cleanest signal, but Tuesday matters.

The AI thesis is still being repaired after NVIDIA’s earnings. TSM looks like one of the steadiest core assets, with Taiwan cash trading and Hyperliquid perps both pointing higher while NYSE and Nasdaq are closed.

Global market brief infographic for May 25, 2026
1. U.S. markets are closedMay 25 is Memorial Day. NYSE and Nasdaq are closed, so U.S. stock prices still use the May 22 close.
2. Taiwan confirmed the repairTaiwan Weighted rose 2.63% and TSM 2330.TW closed at NT$2300, up 2.00%. Local AI hardware demand looks well supported.
3. HL perps are optimisticxyz:TSM traded near $413.9 versus TSM ADR’s Friday close of $404.52. xyz:NVDA and xyz:MU also priced recovery, but liquidity is thinner than the cash market.
4. Plain-English takeawayHold core AI assets, avoid chasing leverage, and watch whether TSM ADR can hold above $410 when U.S. trading resumes.

Key Market Data

Static figures from the supplied daily brief.

U.S. market status and Friday close

May 25, 2026 is Memorial Day, with NYSE and Nasdaq closed. May 22 close: S&P 500 7473.47 +0.37%; Nasdaq 26343.97 +0.19%; Dow 50579.70 +0.58%; VIX 16.70. NVDA $215.33; TSM ADR $404.52; MU $751.00; AMAT $432.16; SMH $576.32; SOXX $537.33.

Taiwan, macro and crypto

Taiwan Weighted closed at 43381.58, +2.63%; TSM 2330.TW closed at NT$2300, +2.00%. BTC was about $77,090; gold futures about $4,523.2; WTI about $96.60; DXY about 98.98; latest U.S. 10Y around 4.558%.

Hyperliquid stock perp reference

xyz:NVDA mid about $219.72, roughly 2.0% above Friday cash close. xyz:TSM mid about $413.92, roughly 2.3% above TSM ADR Friday close but with smaller volume. xyz:MU mid about $779.82, showing a sharper HBM/storage recovery signal.

NVIDIA AI chain signal

NVIDIA FY2027 Q1 revenue was $81.615B, up 85% YoY. Data Center revenue was $75.2B, up 92%. Q2 revenue guide was $91B ±2%, and networking revenue grew 199% YoY, supporting optical, switching, power and cooling demand.

Sources: NYSE, Nasdaq, NVIDIA investor relations, BlackRock, Goldman Sachs Asset Management, PIMCO, Yahoo Finance, Hyperliquid info API.

For a focused Hyperliquid ecosystem view, see the HYPE market brief hub.

Historical Briefs

Past daily market briefs are kept here so readers can review previous market narratives.

2026-05-25TSM leads AI semiconductor repair while U.S. markets are closedTaiwan cash trading and HL perps price a recovery, but Tuesday U.S. confirmation matters.Archive2026-05-23NVIDIA validates AI demand, but valuation discipline mattersStrong AI guidance, weaker NVDA price action, firm chip ETFs, and macro constraints.Archive2026-05-22High-level range trading + structural opportunitiesSemiconductor divergence, neutral BTC leverage, elevated oil and gold.Archive2026-05-21Repair rally, but hawkish policy tail riskOil and yields cooled, helping equities rebound, while AI valuations stayed tied to long-end rates.Archive
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