Asian Stock Markets Rise with Artificial Intelligence!

BANGKOK (AP) — Asian stock markets rose on Monday, boosted by a recovery in shares related to . South Korea's Kospi index led the way with a gain of 3.5%. Computer chip manufacturer SK Hynix rose 5.5% due to its collaboration with Nvidia on artificial intelligence. Its rival Samsung Electronics also saw a 2.4% increase.

The Nikkei 225 index in Tokyo climbed 1.2% to 50,897.20; this rise was supported by a 4.7% increase in artificial intelligence-related chip maker Tokyo Electron. The Hang Seng in Hong Kong rose by 0.8% to 26,445.65 points, while the Shanghai Composite Index saw a slight change, reaching 2,630.42. Australia's S&P/ASX 200 index increased by 0.7% to 8,826.50.

Taiwan's Taiex index rose by 1.2%, while India's Sensex index gained 0.5%. On Friday, stock indexes on Wall Street closed mixed, experiencing their first weekly loss in four weeks. The S&P 500 rose 0.1% to 6,728.80, while the Dow Jones Industrial Average increased by 0.2% to 46,987.10.

The technology-heavy Nasdaq experienced a 2.1% decline but managed to recover most of its losses, ending down 0.2% at 23,004.54. Pressure on large tech stocks (especially those with very high market values) led to volatility in the main indexes throughout the week. Alphabet fell by 2.1%, while Broadcom lost 1.7%.

Wall Street is focused on the latest quarterly reports and forecasts from US companies. Payments company Block (owner of the Square and Cash App brands) reported results that fell below expectations, resulting in a 7.7% decline. Sports equipment manufacturer Peloton gained 14.2% due to exceeding expectations in its results.

Expedia Group gained 17.5% after surpassing analysts' quarterly earnings expectations. More than 90% of the companies in the S&P 500 have reported their last quarter's earnings. Most companies have recorded growth beyond Wall Street's expectations, with the effective technology sector standing out as having the strongest growth.

Company profits and forecasts are drawing attention on Wall Street, where investors are trying to assess whether the overall high valuations in the market are justified. The results are especially important given the absence of other critical data affecting the economy due to the longest shutdown of the US government.

The shutdown has led to delays in important economic data related to inflation and employment that investors rely on for their decision-making. The lack of employment data is particularly concerning, alongside signs of weakness in the labor market. The Federal Reserve has taken a more cautious approach to interest rate cuts, which overlaps with Wall Street’s hopes of revitalizing the economy.

The Federal Reserve has cut its key interest rate twice this year, trying to balance the impact of a weakening labor market on economic growth. However, there are concerns that the rate cuts could worsen inflation levels that exceed the central bank's 2% target. Wall Street continues to carry expectations for the Federal Reserve to cut interest rates at its December meeting.

On Monday morning, US West Texas Intermediate crude oil rose 0.54% to $60.29 per barrel. The international benchmark, Brent crude, increased by 49 cents to $64.12. The US dollar rose to 153.94 Japanese yen, while the euro showed a slight increase to $1.1564.