Published on October 28, 2026
Global stock markets have climbed as investors continue to bet on bright prospects for the tech giants driving the AI boom.
In the United States, all three major stock indexes rose Tuesday, led by the tech-heavy Nasdaq Composite, which gained 1.18 percent.
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The benchmark S&P 500 rose 0.6 percent, while the narrower Dow Jones Industrial Average edged up 0.03 percent.
Five of the “Magnificent Seven” rose, led by Tesla, up 4.04 percent.
Amazon gained 1.61 percent, while Apple and Alphabet gained 0.93 percent and 0.9 percent, respectively.
Nvidia, the world’s most valuable public company, rose nearly 1 percent after announcing a $3 billion investment in Meta’s stock offering.
Meta fell 1.64 percent, while Microsoft fell 0.24 percent.
Other big players in the tech sector include Advanced Micro Devices, Broadcom and Intel, which gained 5.45 percent, 4 percent and 3.61 percent, respectively.
Asia-Pacific markets rebound
Gains continued in the Asia-Pacific region on Wednesday, with stock markets in Japan, South Korea, Taiwan and Australia rising.
Seoul’s KOSPI led the gains, with the benchmark index up 5.84% at 0300 GMT.
The rise came as South Korea’s SK Hynix, one of the world’s top three memory chip makers, reported stellar third-quarter results on Wednesday, with operating profit up about 630 percent year-on-year to 83.33 trillion won ($62.8 billion).
South Korea-listed SK Hynix shares jumped more than 8 percent following the results.
In Tokyo, the benchmark Nikkei 225 index rose 1.26 percent, while the TAIEX in Taipei rose 1.32 percent.
The S&P/ASX 200 index in Sydney rose 0.11 percent.
Investors are eagerly awaiting upcoming earnings reports from major tech players as they try to gauge whether their massive investments in AI will pay off.
Microsoft and Alphabet report their latest results on Wednesday, followed by Amazon on Thursday and Apple on Monday.
AI giant Anthropic filed paperwork for its highly anticipated IPO on Monday, reporting a net loss of $80.7 billion in the first half of 2026 on revenue of $16.3 billion.
Tech companies have each invested hundreds of billions of dollars in AI infrastructure, fueling debate over whether a speculative market bubble could form, similar to the one that preceded the 2000 Internet crash.
Global investments in AI are expected to reach $2.7 trillion in 2026 and $3.6 trillion in 2027, according to Gartner, a technology analysis firm.
Oil prices, which have risen since the start of the U.S.-Israeli war against Iran, rose about 1 percent as Asian markets opened Wednesday, amid ongoing conflict in the Middle East, including hostilities between Saudi Arabia and Yemen’s Iran-aligned Houthis.
Futures for Brent crude, the global benchmark, stood at around $115 a barrel, up 59% from before the war began.
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