AI-related stocks were bought in US markets following the publication of an IPO prospectus by AI developer Anthropic, lifting the Dow Jones Industrial Average and Nasdaq. Japanese stocks, meanwhile, saw the Nikkei rise, although decliners outnumbered advancers, highlighting the market's unevenness. Chinese markets alternated between rebounds and corrections.
In US equity markets, AI-related stocks were bought after AI developer Anthropic published an IPO prospectus, while the Dow Jones Industrial Average and Nasdaq rose. On 26 October, the Dow posted a modest rebound, with buying spreading mainly across semiconductor stocks and notable gains in some constituents. On 27 October, moves in additional AI-related stocks continued, with Oracle among the gainers. On 28 October, as expectations grew that the FOMC would leave rates unchanged, financial and defensive stocks, including AI-related names, provided support, lending stability to the broader market.
Japanese equities rose on the Nikkei, but trading value on the TSE Prime Market remained thin, and decliners continued to outnumber advancers. On 27 October, stocks with large index contributions led the gains against a backdrop of strength in US AI and semiconductor stocks. On 28 October, expectations for new IPOs and continued activity in AI-related stocks provided support, while declines in real estate and domestic-demand stocks also stood out, highlighting the market's unevenness.
Chinese equities posted a modest rebound on 26 October, fell on 27 October after renewing their year-to-date low, and rebounded again on 28 October. Expectations for government economic measures and spillover effects on AI-related stocks were observed, while gains in bank stocks and trends in technology stocks became market focal points.