Global Stocks Surge to Record Highs, AI Optimism Defies US Shutdown Concerns

Global Stocks Surge to Record Highs, AI Optimism Defies US Shutdown Concerns

Global Stocks Surge to Record Highs, AI Optimism Defies US Shutdown Concerns

Global Stocks Surge to Record Highs, AI Optimism Defies US Shutdown Concerns
Image from Bloomberg.com

Global equity markets have soared to unprecedented levels, with a record-breaking rally extending across Asia, as investors enthusiastically embrace the potential of artificial intelligence. This remarkable ascent comes even as traders appear to largely dismiss concerns over a potential US government shutdown.

The latest wave of optimism was significantly bolstered by OpenAI’s recent agreement with leading South Korean chip manufacturers. This strategic partnership ignited a frenzy in chip-related stocks, propelling Samsung Electronics Co. up 4.3% and SK Hynix Inc. by an impressive 10%. Consequently, South Korean shares reached an all-time high, mirroring the broader global trend.

Earlier in the trading session, major US indices, including the S&P 500 and Nasdaq 100, alongside MSCI’s comprehensive gauge of global stocks, all touched new peaks. Futures for both US and European equities are currently indicating further gains, suggesting the bullish sentiment is set to continue.

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