Global Market Today: Asian stocks advance on resurgent AI optimism

The chipmaker is planning a total of 100 trillion won ($75.4 billion) in shareholder returns for 2026.US MarketsPowered ByAs on 28 Oct 2026, 01:30 AM ISTS&P 500 Top GainersPentair62.29(12.80%)Dell Technologies501.96(7.47%)Super Micro Computer35.09(7.34%)Western Digital380.88(6.95%)Gainers»S&P 500 Top LosersXylem92.86(-14.21%)Boeing168.18(-10.69%)Valero Energy387.34(-9.24%)Coterra Energy32.56(-8.62%)Losers»Earlier, a closely watched gauge of US chipmakers jumped 3.6% on Tuesday, sending Wall Street benchmarks higher.

Meta Platforms Inc.’s $25 billion share sale was five times oversubscribed, while Oracle Corp. expanded its partnership with OpenAI. The optimistic tone came as Alphabet Inc. and Microsoft Corp. prepared to report earnings Wednesday, while Amazon.com Inc. announces Thursday.Read more: Rupee edges up to 95.11 against dollar on likely RBI interventionElsewhere, global crude oil benchmark Brent broadly held its losses from the previous session as traders assessed efforts to de-escalate tensions in the Persian Gulf.

Treasuries were little changed in New York trading, while the dollar edged up.Live EventsOptimism around the AI trade has re-emerged as a string of deals and fundraising highlighted the scale of investment continuing to flow into the industry. Meta’s $98 billion capital raise, SpaceX’s $40 billion equipment-finance lease and Anthropic’s S-1 filing helped ease concerns that led to a rout in chip stocks earlier this month.“A wave of AI news sparked a relief rally after three weeks of pressure on the group,” Michael O’Rourke, chief market strategist at JonesTrading Institutional Services LLC, wrote in a note.

That news has “offered solace to investors that the large-scale AI firms can, and are proceeding to spend even if smaller firms are under pressure.”In geopolitical news, the Israeli election increasingly appeared deadlocked.Meantime, Fed policymakers are expected to keep rates steady Wednesday, buying time before potentially raising them again. Chairman Kevin Warsh, who has offered little guidance on the path ahead, may avoid signaling much about December while leaving intact market expectations for a hike.On Tuesday, data showed US consumer confidence unexpectedly rose in October for the first time in four months, buoyed by brighter views on the labor market and business conditions.

The reading topped all forecasts in a Bloomberg survey of economists.The “moderate rebound in US consumer sentiment and decline in oil prices seem to have supported risk sentiment going into a busy week of central bank decisions,” said Dan Pan, an Americas economist at Standard Chartered Bank. “A hawkish hold seems to be the baseline but we would argue that the market might be underestimating the risks for a hike.”The Fed will be followed by rate decisions from the European Central Bank and Bank of Japan this week.(You can now subscribe to our ETMarkets WhatsApp channel)