Asian stocks rise as AI enthusiasm returns ahead of earnings, central bank decisions
SPY•Asian stocks climbed, with South Korea’s KOSPI up more than 3.9% and Japan’s Nikkei up 1.9%, after Anthropic filed for a U.S. IPO and Meta planned to raise up to $95 billion. Investors also looked ahead to major technology earnings and expected interest-rate decisions from the Federal Reserve, ECB and Bank of Japan.
1. AI optimism lifts shares
Asian stocks surged on Tuesday as Anthropic’s U.S. IPO filing revived interest in artificial intelligence ahead of major technology company earnings. Anthropic disclosed a steep loss and rapid revenue growth; its filing offered investors clues about the potential returns from heavy AI spending and the company’s path to profitability.
2. Regional markets advance
South Korea’s KOSPI gained more than 3.9%, its steepest one-day rise since early February, although it remained down 17% for October. Japan’s Nikkei rose 1.9%, while MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.9%. An index of U.S. chip stocks rose 2.8% overnight. Meta Platforms also planned to raise up to $95 billion in its largest-ever equity fundraising.
3. Earnings and rates in focus
More than a third of S&P 500 companies were scheduled to report earnings during the week, including Alphabet, Microsoft and Amazon.com. Economists expected the Federal Reserve, European Central Bank and Bank of Japan to leave rates unchanged, with investors focused on policymakers’ comments. Brent crude eased 0.7% to $114.95 a barrel, and the U.S. 10-year Treasury yield was steady at 4.992%.
