Global markets broadly rise on AI chip demand despite Wall Street's retreat on inflation data

Summary

• World shares rose Wednesday following a U.S. inflation report that exceeded expectations for October.
• Germany's DAX gained 1 per cent after inflation fell to 2.8 per cent year-on-year, while France's CAC 40 & Britain's FTSE 100 also advanced.
• U.S. futures indicated higher trading, with the S&P 500 & Dow Jones Industrial Average futures rising 0.6 per cent & 0.2 per cent respectively.
• Taiwan's Taiex led Asian markets with a 3.6 per cent gain, driven by TSMC's 3.1 per cent rise after October revenue surged sixfold.
• TSMC's board approved up to $1 billion in investments for AI chipmakers Anthropic & OpenAI.
• Japan's Nikkei 225 advanced 1.3 per cent, though SoftBank Group closed 0.4 per cent lower following a quarterly net loss of 1.1 trillion yen.
• South Korea's Kospi rose 2.4 per cent, with Samsung Electronics & SK Hynix gaining 3.4 per cent & 5.4 per cent respectively.
• Hong Kong's Hang Seng fell 1.1 per cent, while China's Shanghai Composite index recovered 0.5 per cent as Singles Day shopping began.
• Australia's S&P/ASX 200 edged up 0.3 per cent, & India's Sensex rallied 0.9 per cent to a six-month high.
• U.S. stocks slipped Tuesday due to higher inflation, increasing pressure on the Federal Reserve to potentially raise interest rates in December.
• The 10-year Treasury yield jumped to 4.99 per cent, impacting mortgage & loan rates.
• Nvidia fell 5.5 per cent as the S&P 500's heaviest weight, following an investigation into CEO Jensen Huang's affair with a purported Chinese spy.
• Anthropic seeks a $1.3 trillion valuation despite recent AI sector shakiness & potential IPO delays.
• The U.S. bond market remained closed for Veterans Day, while oil prices rose slightly to $91.71 for Brent crude.
• The U.S. dollar strengthened to 158.88 yen, while the euro fell to $1.1150.