S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Danske Bank notes European equities were broadly flat on Monday, with the Stoxx 600 unchanged and OMX Nordic slightly higher, while Asian markets rallied in thin trading as US markets were closed for Labor Day. The bank highlights strong performance in technology, particularly semi-conductors and AI-linked hardware, while rising bond yields weighed on real estate and other rate-sensitive sectors.
Tech strength offsets rate headwinds
“European equities were little changed on Monday, while Asian markets rallied sharply, but in thin trading as US markets were closed for Labor Day.”
“The Stoxx 600 finished flat and OMX Nordic gained 0.4%. Tech led performance, with semi-conductors and AI-linked hardware at the forefront, ignited by ChatGPT’s launch of its new Astra model on Friday. “
“Astra is designed to handle more complex reasoning tasks, which also increases the need for compute power, memory capacity and GPU intensity. Astra challenges that narrative.”
“The market reaction reflected this yesterday. Korean equities rallied 5% and another 2% this morning. European technology stocks also performed well, although gains elsewhere were constrained by another rise in bond yields.”
“Real estate and other rate-sensitive sectors lagged. US equity futures are broadly unchanged this morning.”
