Record Rise in Technology Stocks in Global Markets

Exciting Technology Stocks Rise in Global Markets

This week, investors are at a critical juncture related to the earnings results of major technology companies and central banks' interest rate decisions. The record rise in global stock markets has been somewhat tempered in Asian exchanges.

Drop in Asian Markets and Psychological Barrier in Shanghai

The MSCI Asia Pacific index recorded a 0.1% decline as Japan and South Korea fell from their all-time high levels. Meanwhile, the Shanghai Stock Exchange surpassed the 4,000-point psychological barrier for the first time in a decade. These developments came after record closing levels for U.S. indices.

U.S. Market Performance and Qualcomm's Success

S&P 500 closed at a record level of 6,875 points, rising 1.23% in the previous trading day. The Nasdaq 100 also reached its peak with a 1.83% increase. U.S.-based smartphone chip maker Qualcomm announced it would launch a new series of artificial intelligence chips in 2024. The first buyer of these chips will be the Saudi AI initiative Humain, which plans to establish 200 megawatt computing systems starting in 2026.

Following this news, Qualcomm shares rose 11% to $187.68. This marks the largest single-day increase since April and the highest price level seen since July 2024.

China-U.S. Trade Agreement and Market Reactions

Optimism over the China-U.S. trade agreement has helped the yuan climb to its highest level in a year. The dollar index continued its decline for the second day. U.S. Treasury bonds showed little change. As of 07:47 today, U.S. and European futures indices are trading with slight losses. On Wednesday and Thursday, the earnings results of five major companies—Microsoft Corp., Alphabet Inc., Meta Platforms Inc., Amazon.com, and Apple Inc.—are expected to be announced.

“Fantastic Seven” Index Rises on Monday

The “Fantastic Seven” index increased by 2.6% on Monday, attracting attention. Additionally, Russian oil prices fell due to Western sanctions causing some purchases from Chinese refiners to be canceled. The ESPO shipped from the Far East was offered at a discount of 50 cents per barrel compared to the ICE Brent reference price.

Gold and Dollar/TL Situation

Gold prices recovered some of their losses after dropping below $4,000 following positive news from U.S.-China trade talks. After Washington and Beijing negotiators announced that several agreements had been reached regarding tariffs and export controls, gold prices rose by up to 0.9% after previously recording a decline of 3.2%. The Dollar/TL was trading at 41.9640 in the morning hours.