Global shares largely rose on Thursday, driven by advances in AI-related stocks, particularly in the computer chip sector. France’s CAC 40 saw a slight increase of 0.1%, reaching 8,685.40 in early trading. Meanwhile, Germany’s DAX grew by 0.4% to 26,445.93. In contrast, Britain’s FTSE 100 decreased by 0.4%, settling at 10,791.07.
In the United States, stock futures indicated modest growth. Dow futures increased by nearly 0.1% to 53,921.00, with S&P 500 futures also rising nearly 0.1%, reaching 7,775.25.
Asian markets experienced mixed outcomes. Japan’s Nikkei 225 climbed 1.2% to close at 68,308.59. South Korea’s Kospi surged by 3.6%, reaching 6,813.34, driven by Samsung Electronics, which surged 4.9%. Chipmaker SK Hynix saw a significant increase of 9%. However, Hong Kong’s Hang Seng dropped 0.2%, landing at 25,378.14, and the Shanghai Composite index fell 0.5% to 3,926.96. In Australia, the S&P/ASX 200 slid by 0.2%, closing at 9,188.50.
AI-related companies reported stronger-than-expected earnings for the spring, boosting investor interest. A recent U.S. inflation report aligned with forecasts for a modest improvement. Analysts noted that investors are starting to focus on specific AI stocks instead of the entire sector. Recently, AI stocks have seen fluctuating performances, with concerns that prices might be too high. Investors are keen to see if spending in AI will lead to sufficient profits and productivity gains, potentially leading to ongoing demand for AI infrastructure like computer chips.
Elsewhere, early Thursday trading saw benchmark U.S. crude decrease by $1.18, priced at $82.08 per barrel. Brent crude, the global benchmark, declined by $1.17, to $87.81 per barrel.
In the currency market, the U.S. dollar edged down to 159.37 Japanese yen from 159.42 yen, while the euro slightly decreased to $1.1526 from $1.1527. Recently, currency exchange fluctuations drew attention after joint U.S.-Japan interventions helped stabilize the yen. The dollar, though slightly down against the yen, remains above 150 yen.
Yuri Kageyama is available on Threads: https://www.threads.com/@yurikageyama
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