TOKYO (AP) — Global shares were mostly higher on Thursday, powered by gains for AI-related stocks including computer chips.
France’s CAC 40 edged up 0.1% in early trading to 8,685.40, while the German DAX added 0.4% to 26,445.93. Britain’s FTSE 100 shed 0.4% to 10,791.07.
U.S. shares were set to drift moderately higher with Dow futures up nearly 0.1% at 53,921.00. S&P 500 futures rose nearly 0.1% to 7,775.25.
Earlier in Asia, Japan’s benchmark Nikkei 225 advanced 1.2% to finish at 68,308.59.
In South Korea, the Kospi jumped 3.6%, climbing to 6,813.34, as shares in Samsung Electronics surged 4.9%. Computer chipmaker SK Hynix jumped 9%.
Hong Kong’s Hang Seng declined 0.2% to 25,378.14, while the Shanghai Composite index fell 0.5% to 3,926.96. In Australia, the S&P/ASX 200 slipped 0.2% to 9,188.50.
On Wednesday, several AI-related companies reported better earnings for the spring than analysts expected, while a report showed inflation across the United States was in line with forecasts for a slight improvement.
Analysts say investors are starting to study which AI stocks to play, instead of getting drawn in by the whole sector.
AI stocks recently have been on a roller-coaster ride, surging to records and then coming under pressure on worries that they have shot too high. Investors want to see big spenders on AI prove their investments are yielding enough in profits and productivity to make them worth it. That in turn could lead to sustained demand for chips and other AI infrastructure.
In other dealings early Thursday, benchmark U.S. crude slipped $1.18 to $82.08 a barrel. Brent crude, the international standard, fell $1.17 to $87.81 a barrel.
In currency trading, the U.S. dollar fell to 159.37 Japanese yen from 159.42 yen. The euro cost $1.1526, down slightly from $1.1527. Foreign exchange fluctuations have been in focus after the U.S. and Japan recently jointly intervened to prop up the yen. Although the dollar has fallen slightly against the yen, it still remains above 150 yen.
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Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
