Expectations of a December rate hike have risen for US stocks, with an increase of +0.25% to +0.50% expected. Meanwhile, although the Nikkei rebounded, the contribution from AI and semiconductor-related stocks was limited, and caution over selling is warranted.
In the US equity market, expectations of a rate hike strengthened toward the latter half of November, with a December increase of either +0.25% or +0.50% being discussed. Against a backdrop of oil price movements and comments from various Federal Reserve officials, investors are closely watching the pace of rate hikes and inflation trends.
In the US market, movements in AI-related stocks drove the market. The Dow repeatedly staged sharp rebounds and declines at times, while the Nasdaq Composite remained at a high level. Earnings from major companies and IPO trends affected investor sentiment, and IT and semiconductor stocks, including SoftBank Group, became a focus of the market.
In the Chinese market, the Shanghai Composite continued to rebound at times, while concerns over weak domestic demand and uncertainty surrounding US-China tensions remained. Expectations for government measures to support stock prices and stabilize the capital markets supported the market, but the upside was considered limited.
In the Japanese market, the Nikkei continued to rebound at times, but the top contributors were concentrated in AI and semiconductor-related stocks, while buying of other stocks was limited. The TSE Prime Market was broadly higher at times, but there was also some caution over sell signals overall.
Among earnings- and IPO-related developments, Anthropic's IPO plans and CoreWeave's earnings trends became market focuses, and views on the sustainability of AI investment affected investor sentiment.)
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