The ‘Anthropic effect’ isn’t enough; European stock markets are falling. Stellantis is lagging behind in Milan

All this comes on the eve of the Federal Reserve’s decision, with most market participants expecting interest rates to remain unchanged following the previous rise in September.

This, alongside the quarterly results from Alphabet and Microsoft (tomorrow), followed on Thursday by Amazon and Intel, will provide further clues as to whether the technology sector will manage to recover from its recent slump.

The Tokyo Stock Exchange closed sharply higher. The Nikkei 225 index rose by 1.73 per cent to close at 63,268 points, bringing an end to a run of three consecutive days of losses and following the overnight rebound on Wall Street, fuelled by renewed optimism in the artificial intelligence sector following Anthropic’s IPO filing. Investors are also awaiting this week’s financial results from South Korean chipmakers Samsung and SK Hynix, as well as those from major US technology firms such as Amazon, Alphabet and Microsoft, for further indications on the outlook for demand in the AI sector. Japanese technology shares and those linked to artificial intelligence led the gains: Advantest jumped 9.6 per cent, Ibiden Co. rose 9.1 per cent, SoftBank Group gained 5.2 per cent, Lasertec rose 5.1 per cent and Tokyo Electron recorded a 2.6 per cent increase.

The Topix broad-based index rose by 0.61 per cent to 3,997.37 points.

In Seoul, the Kospi index surged, closing the session up 3.09 per cent at 5,638.34 points.