Source: Bloomberg
Author: Farah Elbahrawy
After Nvidia announced the performance of heaven and people, after consolidating the status of "the most important stock on the earth", the major stock indexes from Japan to Europe have reached a new high.
Global investors' pursuit of artificial intelligence stocks also stir up its surrounding sectors, which not only boosted scientific and technological stocks in various countries, but also raised the trajectory of the entire market.However, China is the only major market that misses this round of good opportunities.
"This result will bring the popularity of the stock market in the next few weeks, and we cannot rule out the possibility of fusion of artificial intelligence related stocks," said Peter Garnry, director of the stock strategy of Shengbao Bank, said, "Broadly, the American technology industryThe market may expand "
Artificial Intelligence Drive
The global stock market rose nearly 5%in the first two months of this year, and hit a new high on Thursday.But without three artificial intelligence -related stocks, the market looks not so amazing.Before the skyrocketing today, Nvidia contributed one -fifth of the MSCI World Index that tracks the stocks of developed countries this year, and Meta Platforms Inc. was about 12%.Microsoft, which calculates the investment in Points, is the third major hero.
Japanese market
Since the beginning of 2023, the Japan Nikkei 225 Index has even exceeded the S & P 500 index, and three of the top five stocks from the top five increases from chip companies.As investors have invested funds to a country that finally get rid of shrinkage and embark on a sustainable growth path, on Thursday, the Japanese stock market surpassed the historical high.Tokyo Victoriac Science and Technology and other technology stocks led.
Taiwan's benchmark stock index also rose to a record high under the promotion of TSMC last week.
Cheap European stocks
Stock Europe 600 also hit a new high on Thursday.Since the market has rebounded since the decline in 2022, chip equipment manufacturers ASML Holding NV and German software giant SAP SE have been one of the three major drivers of the benchmark index.In the index of nearly 3%of this year, science and technology stocks contributed 32%.
Nevertheless, the Brexit benchmark index has been behind U.S. stocks in the past 14 months, and the low valuation of the Bookmark 500 Index has not attracted investors.According to data released by EPFR Global last week, European stock funds have been recorded in the seventh consecutive week, while US stocks have flowed at $ 11 billion.The heat of technology stocks determines that the dominant position of the United States may continue.
High valuation
Technology stock market promotes the valuation of the Nasdaq 100 index to the highest level in history, and the S & P 500 index is similar.With investors weighing how much they are willing to pay for the valuation based on future growth, excessive valuation may eventually suppress further rise.
But Citi Group strategist Scott Chronrt recently said that the price -earnings ratio of the index may be misleading because 40%of the ingredients stocks in the S & P 500 index see other indicators.He predicts that even if the P / E ratio of U.S. stocks will reach 20 times, more stocks may be re -valued.The market outlook is as expected.
China is not cheerful
A big player in the global stock market missed the large artificial intelligence market.Chinese stocks have fallen into the shadow of weak economic and real estate crisis.The Hang Seng Technology Index has fallen 17%since early 2023, while the Nasdaq 100 index has soared by 60%at the same time.
But the signs of improvement are emerging, and the decision -making layers have announced some measures to support the market in recent weeks.Including the prohibition of clean -selling, rectification of quantitative funds transactions, rectifying quantitative funds, surpassing housing loan interest rates, and dispatching "national teams" to buy stocks and ETFs for active intervention.
