[Good Morning Stock Market] Anthropic Tailwind Lifts U.S. Stocks; Will It Reach South Korea?

U.S. Major Indexes Rise... Tech Stocks Lead Rebound
Anthropic IPO Eases Some Concerns Over AI Investment
Focus on Big Tech Earnings and SK hynix Shareholder Returns
"Could Be a Key Gauge of the Overall Direction of South Korea's Market"

The New York stock market closed higher for a second straight day on optimism about artificial intelligence (AI company Anthropic’s initial public offering (IPO). Technology stocks surged as reports emerged of large-scale financing to fund semiconductor purchases. A recovery in AI investment sentiment and a decline in international oil prices created favorable conditions for major chipmakers. Investors are watching to see whether the tailwind will continue in South Korea’s market, which is also heavily weighted toward semiconductors.

On the 27th local time, the S&P 500 rose 0.60% to close at 7,722.60. The Nasdaq Composite, which is dominated by technology stocks, gained 1.18% to finish at 26,477.81. The Dow Jones Industrial Average closed at 52,377.57, up 0.03%.

Technology stocks led the gains, buoyed by news the previous day that Anthropic was pursuing an IPO and reports that Broadcom had secured large-scale financing. The developments are seen as having eased some concerns about the sustainability of AI investment. Broadcom reportedly entered into a $63 billion agreement with major financial firms, including Bank of America, Blackstone, Citigroup and Morgan Stanley, to secure funding for purchases of Anthropic’s high-performance semiconductors.

Expectations of sustained memory-chip demand, bolstered by these agreements, helped Micron Technology rise 2.77%. SK hynix American depositary receipts (ADRs) gained 1.92%, while SanDisk closed up 3.92%. The gains appeared to reflect expectations of growing demand from AI data centers, as well as buying prompted by recent losses. AMD (5.45%) and Broadcom (4.00%) also advanced.

Lower international oil prices also eased pressure on the stock market. West Texas Intermediate (WTI) futures for December delivery fell $1.86, or 1.83%, to close at $99.90 a barrel. Prices fell for a second consecutive day and dipped below $100 on hopes for a diplomatic resolution to the conflict in the Middle East. The previous day, Iran and the three member countries of the “Mecca Joint Defense Agreement”—Saudi Arabia, Pakistan and Türkiye—held high-level talks in Tehran and agreed to continue dialogue to strengthen cooperation on peace and security.

Markets are focused on earnings reports due on the 28th from major technology companies, including Microsoft and Alphabet, as well as the U.S. Federal Reserve’s interest rate decision. With markets expecting rates to remain unchanged, the key question will be whether the Fed holds rates steady and how much room it leaves for further increases.

Investors are watching to see whether the tailwind will extend to South Korea’s stock market. The iShares MSCI South Korea ETF, which closely tracks movements in the domestic market, rose 3.10% from the previous day. The Philadelphia Semiconductor Index surged 3.60%, rising for a third consecutive trading day.

Han Ji-young, a researcher at Kiwoom Securities, forecast that South Korea’s stock market would enter the peak of earnings season with support from the AI-driven rally in U.S. stocks. She also identified the shareholder returns to be announced in SK hynix’s third-quarter earnings release that day as a factor that could influence the stock’s near-term performance. “The market will focus on whether SK hynix delivers additional shareholder returns, how concrete those plans are, and their form—such as share buybacks and cancellations or dividends—as well as the amount and timing of the returns,” Han said. “Because shareholder returns alone could improve short-term investor sentiment and supply-demand conditions across the broader KOSPI, not just in the semiconductor sector, this SK hynix earnings report will be more important than previous ones.”

This content was produced with the assistance of AI translation services.