Global Shares Rise, Driven by AI Stock Gains

Global stock markets showed a positive trend on Thursday, predominantly fueled by gains in AI-related stocks, especially in the computer chip sector. Early trading in Europe saw France’s CAC 40 inch up by 0.1% to reach 8,685.40, while Germany’s DAX improved by 0.4% to 26,445.93. In contrast, Britain’s FTSE 100 faced a slight decline of 0.4% to 10,791.07.

In the United States, futures indicated a modest upward movement. Dow futures increased by nearly 0.1% to 53,921.00, and S&P 500 futures also climbed by 0.1% to 7,775.25.

Asian markets experienced mixed performances. Japan’s Nikkei 225 rose by 1.2%, closing at 68,308.59. The Kospi in South Korea surged by 3.6%, driven by a 4.9% jump in Samsung Electronics shares and a 9% increase in SK Hynix. In contrast, Hong Kong’s Hang Seng dropped by 0.2% to 25,378.14, and China’s Shanghai Composite Index fell by 0.5% to 3,926.96. Australia’s S&P/ASX 200 decreased by 0.2% to 9,188.50.

Recent earnings reports from AI-related companies exceeded analysts’ expectations, contributing to the sector’s rally. A report on U.S. inflation showed slight improvement, aligning with forecasts. Analysts note a shift in investor strategy, focusing on specific AI stocks rather than the entire sector. Previously, the AI stock market experienced volatility with rapid surges followed by downturns. Investors are keen to see substantial profits and productivity from AI investments, which could drive ongoing demand for chips and other AI-related technologies.

In other financial markets, U.S. crude oil prices fell by $1.18 to $82.08 per barrel. Brent crude, the global benchmark, decreased by $1.17 to $87.81 per barrel. The currency market observed minor fluctuations; the U.S. dollar dropped to 159.37 Japanese yen from 159.42 yen, while the euro slightly dipped to $1.1526 from $1.1527. Recent joint intervention by the U.S. and Japan influenced the yen’s strengthened position, although the dollar remains over 150 yen.