Global equity markets rose on Tuesday as the AI trade regained momentum following Anthropic's IPO filing. The Nasdaq 100 closed 1 per cent higher on Monday after the filing revealed ballooning revenues and a $112 billion cash pile. Asian markets were buoyant, with South Korea's Kospi rising up to 4 per cent, led by SK Hynix and Samsung, up 6.2 per cent and 4.6 per cent respectively.
Japan's Nikkei 225 gained about 2 per cent, with Soft Bank up 6.7 per cent. Analysts noted investor concern over AI profitability persists, but recent deals by Space X and Meta provided positive momentum. Kieron Poon of Aberdeen Investments highlighted that Anthropic's S1 disclosures benefit memory and supply chain players in Korea and Taiwan.
Chipmaker SK Hynix reports results Wednesday, followed by Samsung on Thursday. Futures pointed to further US gains. Oil prices fell, with Brent at $114.90, while China's CSI 300 fell 0.2 per cent and Hong Kong's Hang Seng dropped 0.5 per cent ahead of Fed and midterm watch.
Source: Financial Times Markets · Summarized by HeadlinesBriefing