Global stock prices rose in most markets on Wednesday, following the Democrats' majority in both chambers of the US Congress after the midterm elections. US stock futures saw a slight increase, while oil prices fell.
According to the Associated Press, the S&P 500 index rose by 0.2 percent, while the Dow Jones Industrial Average rose by 0.4 percent. Markets experienced volatility due to the sale of technology company shares by investors expressing concerns over excessive valuations of AI-related companies.
At the start of European trading, the CAC 40 index in Paris rose by 0.4 percent to reach 8,055.02 points, the UK FTSE 100 rose by 0.1 percent to 10,646.43 points, and the German DAX rose by 0.5 percent to 25,995.13 points.
The preliminary reading of the Eurozone consumer price index for October was scheduled to be announced on Wednesday, while traders awaited the Bank of England's interest rate decision, due on Thursday.
In Asia, Japan's Nikkei 225 index fell by 1.4 percent to 62,188.63 points, while South Korea's KOSPI rose by 0.6 percent. Hong Kong's Hang Seng index rose by 1.5 percent, and China's Shanghai Composite rose by 2.2 percent.
Japanese SoftBank shares fell by 3.2 percent, while Kioxia, a memory chip manufacturer, dropped by 5.4 percent. In currency markets, the US dollar fell to 158.17 Japanese yen, compared to 158.69 yen, while the euro rose to $1.1242.
The agency noted that investors continue to monitor technology stocks amid fears of overvaluation of AI-related companies and the impact of rising memory chip costs on some companies' profits.
Source: Syrian Arab News Agency (SANA)
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