- China offers $325 bn in fiscal stimulus for ailing economy
- Dodgers drop Padres 2-0 to advance in MLB playoffs
- Alexei Navalny wrote he knew he would die in prison in new memoir
- Last-minute legal ruling allows betting on US election
- Despite hurricanes, Floridians refuse to leave 'paradise'
- Israel observes Yom Kippur amid firestorm over Lebanon strikes
- Trump demonizes migrants in dark, misleading speech
- X says 'alert' to manipulation efforts after pro-Russia bots report
- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
Tokyo smashes 34-year high as Nvidia reignites stock rally
Global stock markets rallied Thursday, with Tokyo breaking a record high that had stood since 1989, as investors cheered bumper profits from US chip giant Nvidia, seen as the bellwether for artificial intelligence.
Highly anticipated results from Nvidia after the Wall Street close Wednesday saw the company post quarterly profit of $12.3 billion on record revenue, driven by demand for its AI-powering chips.
Japan's Nikkei 225 jumped 2.2 percent to end at an all-time high of 39,098.68 points as tech shares rallied.
Eurozone indices also advanced Thursday with investors awaiting European Central Bank minutes of its most recent meeting on interest rates, with both Frankfurt and Paris pushing into record territory.
Ahead of the release, a survey showed that eurozone business activity fell for a ninth month running, but the rate of decline eased further.
Some economists said the data showed the 20-nation single currency area was moving slowly towards recovery, while others said the figures mean the ECB will not cut interest rates soon.
The HCOB Flash Eurozone purchasing managers' index (PMI), published by S&P Global, recorded a figure of 48.9 for February after 47.9 in January.
A figure below 50 indicates contraction, but this was the smallest rate of decline since June 2023.
Separate PMI data for Britain firmed belief that its economy could already be out of recession. Official data this month showed it had contracted in the second half of last year as high inflation weighed.
In the United States, minutes Wednesday from the Federal Reserve's most recent policy meeting showed that officials were at odds on when to start cutting interest rates as inflation comes down.
"Policymakers are concerned about the potential risks of cutting interest rates too soon," said Stephen Innes of SPI Asset Management.
But Wall Street's main indices shot higher as trading got underway Thursday, with tech optimism overshadowing concerns about the timing of interest rate cuts, with the Nasdaq Composite jumping nearly two percent.
Shares in Nvidia soared more than 11 percent to a new record high of $757 apiece.
Briefing.com analyst Patrick O'Hare said Nvidia's results "have generated a halo effect that has put a shine on other semiconductor stocks, other AI stocks, and other growth stocks".
- Key figures around 1430 GMT -
New York - Dow: UP 0.6 percent at 38,287.11 points
New York - S&P 500: UP 1.2 percent at 5,042.75
New York - Nasdaq Composite: UP 1.9 percent at 15,880.34
London - FTSE 100: UP 0.3 percent at 7,685.53
Paris - CAC 40: UP 1.2 percent at 7,902.94
Frankfurt - DAX: UP 1.5 percent at 17,382.59
EURO STOXX 50: UP 1.6 percent at 4,851.68
Tokyo - Nikkei 225: UP 2.2 percent at 39,098.68 (close)
Hong Kong - Hang Seng Index: UP 1.5 percent at 16,742.95 (close)
Shanghai - Composite: UP 1.3 percent at 2,988.36 (close)
Euro/dollar: DOWN at $1.0811 from $1.0817 on Wednesday
Dollar/yen: UP at 150.57 yen from 150.24 yen
Pound/dollar: DOWN at $1.2614 from $1.2630
Euro/pound: UP at 85.69 pence from 85.67 pence
West Texas Intermediate: DOWN 0.2 percent at $77.70 per barrel
Brent North Sea Crude: DOWN 0.2 percent at $82.77 per barrel
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F.Dubois--AMWN