Stocks in both Europe and Asian markets rose on Wednesday following a boost in NVIDIA that offset weakness in Wall Street. Major indices such as Germany’s DAX, Paris’ CAC 40, and London’s FTSE 100 all saw gains. Asian markets, including Japan’s Nikkei, also experienced positive movement, with Tokyo Electron, Advantest Corp., and Shin-Etsu Chemical Co. registering notable increases. The dollar strengthened against the Japanese yen, leading to concerns about potential market intervention by Japanese officials.
Furthermore, Seoul’s Kospi, Hong Kong’s Hang Seng, and the Shanghai Composite Index all saw gains, while Australia’s S&P/ASX 200 dropped. Shares in Taiwan, India, and Bangkok also rose. The performance of U.S. stocks on Tuesday showed varied results, with the S&P 500 and Nasdaq composite rising, while the Dow Jones Industrial Average fell. Key to the market movement was the significant gain of NVIDIA, which prevented the S&P 500 from posting a loss that day.
The demand for NVIDIA’s chips for artificial intelligence applications has been a driving force behind the recent record-setting performance of the US stock market, despite concerns about a possible bubble. Retail sales have reflected the struggles of low-income consumers to keep up with rising prices. Investors are anticipating the Federal Reserve to cut interest rates to curb inflation, with the hope that this decision will strike a balance that prevents a recession while controlling inflation.
In the oil market, benchmark U.S. crude oil and Brent crude both rose in early trading on Wednesday. Overall, the global stock markets are showing signs of positivity amidst broader economic and geopolitical challenges.
Article Source
https://finance.yahoo.com/news/stock-market-today-asian-shares-082711876.html
