Global shares saw a mostly upward trend on Thursday, influenced largely by AI-related stocks such as computer chips. France’s CAC 40 rose by 0.1% to reach 8,685.40. Meanwhile, the German DAX increased by 0.4% to 26,445.93. In contrast, Britain’s FTSE 100 experienced a decrease of 0.4%, settling at 10,791.07.
U.S. markets displayed a slight upward movement, with Dow futures climbing by nearly 0.1% to reach 53,921.00. Similarly, S&P 500 futures increased by 0.1% to 7,775.25.
Asian markets exhibited mixed results. Japan’s Nikkei 225 grew by 1.2%, ending at 68,308.59. South Korea’s Kospi surged by 3.6% to 6,813.34, driven by Samsung Electronics’ stock increase of 4.9% and SK Hynix jumping 9%. In contrast, Hong Kong’s Hang Seng decreased by 0.2% to 25,378.14, while the Shanghai Composite fell by 0.5% to 3,926.96. Australia’s S&P/ASX 200 dropped by 0.2% to 9,188.50.
On Wednesday, several AI-related companies surprised analysts with better-than-expected spring earnings. A U.S. inflation report matched predictions, indicating a slight improvement. Analysts indicate a shift among investors towards selecting specific AI stocks rather than investing broadly across the sector. AI stocks have experienced significant volatility, with record highs followed by concerns of overvaluation. Investors need assurance that AI investments will result in profitable returns and productivity gains, which could sustain demand for AI infrastructure such as chips.
In other market news, early Thursday saw U.S. crude drop by $1.18 to $82.08 a barrel, while Brent crude, the international benchmark, decreased by $1.17 to $87.81 a barrel. Currency trading witnessed the U.S. dollar falling slightly to 159.37 Japanese yen from 159.42 yen. The euro recorded a slight decrease to $1.1526 from $1.1527. Currency markets have been closely watched following a joint intervention by the U.S. and Japan to support the yen. Although the dollar declined marginally against the yen, it remains above the 150-yen level.