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The Economic Times

Global Market Today: Asian shares rise as chipmakers gain, oil climbs

Oil Alphabet Asia Alphabet Inc US Federal Reserve United States Artificial Intelligence Red Sea

Asian shares advanced as regional chipmakers gained on expectations they will benefit from the billions spent on the artificial intelligence buildout. Oil extended its rally.

MSCI’s Asia Pacific equities gauge climbed 0.8%, with South Korea’s Kospi — a bellwether for AI investments — climbing over 3%. US equity-index futures also pared earlier losses spurred by Alphabet Inc.’s spending plans. Samsung Electronics Co. and SK Hynix Inc. both climbed over 4% as the South Korean chipmakers are seen as the picks and shovels of global AI buildout.

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