Global shares are mixed after US stock rally, and oil prices gain more than 1%

World shares were mixed Wednesday after AI stocks drove gains on Wall Street.

US futures edged higher. Oil prices rose more than 1 per cent after an attack on a major Saudi Arabia refinery by Iran-backed Houthi rebels on Tuesday renewed supply concerns.

In early European trading, Germany's DAX shed 0.2 per cent to 25,539.36, while the CAC 40 in Paris declined 0.1 per cent to 7,882.52. Britain's FTSE 100 was down 0.4 per cent at 10,645.50.

The future for the S&P 500 rose 0.1 per cent, while that for the Dow Jones Industrial Average was 0.2 per cent lower.

In Asia, South Korea's Kospi rose 6.8 per cent to close at 6,023.73.

Memory chipmaker SK Hynix jumped 11.4 per cent to its highest level in two weeks after it reported a record-high operating profit of 83.3 trillion won ($62.8 billion) for the last quarter, up nearly seven-fold from a year earlier and beating market estimates.

Samsung Electronics surged 9.1 per cent. It is set to report its third-quarter earnings Thursday.

Japan's benchmark Nikkei 225 rallied 1.1 per cent to 63,954.19. Semiconductor maker Kioxia Holdings climbed 9.6 per cent ahead of its quarterly earnings report on Friday.

The Bank of Japan is scheduled to begin a two-day policy meeting on Thursday, with markets expecting its benchmark interest rate to be unchanged.

In Hong Kong, the Hang Seng gained 0.3 per cent to 23,104.91, while the Shanghai Composite index gained 0.9 per cent to 3,681.47. Taiwan's Taiex advanced 2 per cent.

India's Sensex fell 0.8 per cent. Jio Platforms, India's largest telecom company, surged 21 per cent in its market debut after the country's biggest ever initial public offering.

Australia's S&P/ASX 200 gained 0.3 per cent to 8,847.30.

Amid a busy week for central banks, the Reserve Bank of New Zealand surprised market watchers by keeping its benchmark interest rate at 2.75 per cent.

The S&P/NZX 50 Index edged 0.1 per cent higher.

On Tuesday, the S&P 500 rose 0.6 per cent and pulled within 1.2 per cent of its all-time high set earlier this month. The Dow Jones Industrial Average added less than 0.1 per cent, and the Nasdaq composite climbed 1.2 per cent.

The majority of stocks within the S&P 500 fell, but gains for influential AI stocks made up for that. AI stocks rose to another winning day after swerving for weeks on worries about whether their boom is under threat because of how expensive it's become for companies to borrow money to build data centers and buy more AI chips.

Broadcom climbed 4% after announcing a $63 billion financing deal where several Wall Street firms will help Anthropic get access to Broadcom's XPU AI accelerators and networking solutions.

Nvidia added 0.9% and CoreWeave, a company that's borrowed money to buy AI chips that it rents out to customers over the cloud, jumped 7.9 per cent.

Companies overall are under pressure to deliver big growth in profits. Expectations are high among financial analysts and investors, and that's what allowed their stock prices to run to records recently despite high inflation, high interest rates and other concerns weighing on the market.

Confidence among US shoppers has tumbled recently as pressure keeps building on them from high inflation. But a report on Tuesday said that U.S. consumer confidence improved in October, when economists expected further weakening.

In the bond market, Treasury yields held relatively steady a day before the Federal Reserve is scheduled to announce its latest decision on interest rates. The Fed last month hiked the fed funds rate for the first time in three years in hopes of slowing inflation, but the widespread expectation on Wall Street is that it will hold rates steady this time.

The yield on the 10-year Treasury edged down to 4.99 per cent from 5.00 per cent late Monday.

In other dealings early Wednesday, Brent crude oil, the international standard, rose 1.4 per cent to $110.99 a barrel. US benchmark crude gained 1.4 per cent, to $101.33 per barrel.

The U.S. dollar slid to 157.74 Japanese yen from 157.91 yen. The euro was trading at $1.1123, down from $1.1127.

Published on October 28, 2026