Nikkei Jumps 2% as Anthropic's IPO Fuels Asia-Wide AI Rally
As of 2026-10-27 12:00 SGT
Key points
- The Nikkei 225 extended the prior session's rally into the Tokyo afternoon, intraday up 2.09% at 63,491, as chip and AI names kept bidding on Anthropic's IPO filing
- South Korea's Q3 GDP grew 1.0% q/q, beating the 0.7% forecast, as the AI chip boom lifted exports and investment; the KOSPI's advance briefly triggered a sidecar halt on program-buying
- The PBOC set its USD/CNY central parity at 6.7171, weaker than the 6.6731 Reuters estimate, while USD/JPY held in the high-157s as Treasury yields and oil eased off their best levels
- Microsoft offered voluntary buyouts to 60,000 employees and Meta unveiled a $95 billion stock offering to fund AI expansion, underscoring how fast AI capex is escalating around Anthropic's IPO
- Brazilian assets stayed under pressure after Lula's runoff win wrongfooted prediction markets, while Israelis queued to vote in an election framed around divisions over Iran policy
Market snapshot
| Instrument | Level | Change |
|---|---|---|
| USD/JPY | 157.64 | +0.11% |
| EUR/USD | 1.1176 | -0.03% |
| Nikkei 225 (intraday) | 63,491 | +2.09% |
| Hang Seng (intraday) | 23,179 | +0.37% |
| Dow futures | 52,668 | +0.22% |
| S&P 500 futures | 7,724.75 | +0.13% |
| Nasdaq 100 futures | 29,456 | +0.06% |
| Gold futures | 4,028.90 | -0.24% |
| WTI crude | 100.97 | -0.78% |
| Bitcoin | 79,694 | -0.39% |
| US 10-yr yield | 4.986% | -0.2bp |
Foreign exchange — dollar firm, yuan fixed weaker
USD/JPY held at 157.64 (+0.11%), just above the prior session's 157.63 high, with the yen staying on the back foot through the Asian afternoon even as Treasury yields and oil eased off their best levels. The PBOC set its USD/CNY central parity at 6.7171, weaker than the 6.6731 Reuters estimate, nudging the yuan's reference softer heading into a central-bank-heavy week. EUR/USD was little changed at 1.1176 (-0.03%), holding just above the prior session's 1.1175 low. Through the European open, dollar firmness against both the yen and the yuan fixing looks set to persist
Equities — Asia extends the Anthropic-fuelled AI rally
The Nikkei 225 extended its advance into the Tokyo afternoon, intraday up 2.09% at 63,491, as chip and AI names kept bidding on the back of Anthropic's IPO filing. South Korea's KOSPI rally — helped by the Q3 GDP beat tied to AI chip exports — briefly triggered a sidecar halt on program-buying. The Hang Seng was little changed, intraday at 23,179 (+0.37%). For the rest of the Asian session, chip and AI-linked names look likely to keep outperforming the broader regional tape
Macro — central-bank week builds, BoJ in focus too
The US 10-year yield held at 4.986% (-0.2bp) as traders position for this week's FOMC decision, where the Fed is widely expected to hold; Moody's Mark Zandi argued a hike this week "would be a mistake" given that 5% yields and 7% mortgages are already doing the tightening. Japan's September services PPI rose 3.7% y/y, building the case for the BoJ to signal further hikes even as it holds steady at 1.25% on Friday. Into tonight's New York open, positioning should stay defensive ahead of this week's FOMC and BoJ decisions
Commodities — gold holds above $4,000, oil eases on Iran diplomacy
Gold futures held at $4,028.90 (-0.24%), still above the $4,000 level after rebounding from the prior session's $3,989.10 low. WTI eased to $100.97 (-0.78%) after Saudi Arabia's defense minister met Iran's president in Tehran in a de-escalation push, though crude remains above the prior session's $98.84 low. Through the European open, the Tehran diplomacy keeps a lid on crude's upside
Geopolitics — Brazil fallout and Israel's election
Brazilian assets remained under pressure after Lula's come-from-behind runoff win wrongfooted prediction markets that had favored Bolsonaro, with a Brazil ETF tumbling nearly 15% in Tokyo trading. In Israel, tens of thousands of citizens were flying back from abroad to vote in an election framed around divisions over Iran policy. For the remainder of the Asian session, both storylines are likely to keep feeding into broader risk sentiment
Upcoming events
| Time (SGT) | Region | Event | Why it matters |
|---|---|---|---|
| 10/27 22:00 | US | CB Consumer Confidence (forecast 81.2) | Last consumer-mood read before this week's central-bank gauntlet |
| 10/28 08:30 | AU | CPI y/y (forecast 4.2%) | Key input for the RBA's next move; an upside surprise would support AUD |
| 10/28 09:00 | NZ | Official Cash Rate (forecast 3.00%) | A hike decision could drive sharp NZD volatility |
| 10/28 20:30 | UK | Annual Budget Release | Markets will scrutinize fiscal consolidation and tax measures |
| 10/28 21:45 | CA | Overnight Rate (forecast 2.50%) | Whether the BoC resumes hiking will set the tone for CAD |
| 10/29 02:00 | US | Fed Funds Rate (forecast 4.00%) | A hold is expected, but the statement and press conference tone are key |