Global stock markets experienced a positive trend on Thursday, largely driven by an increase in AI-related stocks, particularly in the computer chip sector. Notable among European indices, France’s CAC 40 increased by 0.1% to reach 8,685.40, and Germany’s DAX rose by 0.4%, landing at 26,445.93. Conversely, the UK’s FTSE 100 saw a decline of 0.4%, settling at 10,791.07.
In the United States, market futures indicated a slight upward movement. Dow futures increased by nearly 0.1% to hit 53,921.00, with S&P 500 futures also rising by nearly 0.1% to 7,775.25.
Asian markets showed a mixed performance. Japan’s Nikkei 225 gained 1.2%, closing at 68,308.59. South Korea’s Kospi saw a significant jump of 3.6%, reaching 6,813.34, fueled by a 4.9% rise in Samsung Electronics shares and a 9% increase in SK Hynix. However, Hong Kong’s Hang Seng dropped by 0.2% to 25,378.14, and China’s Shanghai Composite fell by 0.5% to 3,926.96. Australia’s S&P/ASX 200 decreased slightly by 0.2% to 9,188.50.
The boost in AI-related stocks came after several companies reported earnings that surpassed analyst expectations for the spring. A U.S. inflation report aligned with forecasts indicated a slight improvement. Analysts advise investors to identify specific AI stocks with potential instead of indiscriminately investing in the entire sector. AI stocks have fluctuated, achieving record highs and then facing pressures due to valuation concerns. Investors are keen on seeing substantial returns and productivity improvements from AI investments, which would sustain the demand for chips and AI infrastructure.
Investors are carefully assessing the returns on AI investments to ensure these technologies prove their value through productivity and profits.
On Thursday, early trading also saw U.S. crude prices dip by $1.18 to $82.08 per barrel, while Brent crude dropped by $1.17 to $87.81 per barrel.
In currency markets, the U.S. dollar decreased against the Japanese yen, trading at 159.37 yen, down from 159.42 yen. The euro slightly decreased, costing $1.1526 compared to $1.1527 previously. Attention remains focused on foreign exchange movements following a joint intervention by the U.S. and Japan intended to support the yen. Despite this, the dollar remains above the 150 yen mark.
Report by Yuri Kageyama.
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