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

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

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

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

Global equity markets witnessed an upward trend after unexpected US inflation data for October was released. Taiwan's markets surged notably, fueled by a strong demand for AI chips as noted by TSMC. Japan’s stock index and South Korea's Kospi also rose, despite challenges for SoftBank. However, inflationary pressures continue to spark concerns about impending interest rate hikes from the Federal Reserve this December.

World shares were mostly higher Wednesday after a retreat on Wall Street as US inflation rose higher than expected in October, while US futures edged higher and oil prices rose. In early European trading, Germany's DAX rose 1 per cent to 26,621.01 after inflation fell to 2.8 per cent in October from a year earlier, according to the federal statistics office on Wednesday. The CAC 40 in Paris picked up 0.6 per cent to 8,331.94. Britain's FTSE 100 added 0.7 per cent to 10,825.97.

2 per cent. 6 per cent. 1 per cent after the AI chipmaker reported its October revenue was nearly sixfold higher than a year earlier, showing that demand for AI chips remains solid. TSMC's board also approved up to USD 1 billion in investment in Anthropic and OpenAI, according to a company statement Tuesday. 59. 1 trillion yen (USD 7 billion) on Tuesday after markets closed. 75. 4 per cent.


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