Hong Kong – Shares of Sensetime Group, a Chinese artificial intelligence company, surged over 20% today, outperforming the Hang Seng Index. The spike in share price followed a recent tech day during which the company planned to announce its latest advancements in AI technology. While the exact reason for the rally remains unclear, Chinese media reported that Sensetime introduced its SenseNova 5.0 AI model, claiming its superiority over competitors like OpenAI’s GPT 4.
Meanwhile, in Japan, there is speculation that the Japanese yen could surpass the 155 level against the U.S. dollar after the upcoming Bank of Japan monetary policy meeting. Analysts at Bank of America suggest that the BOJ may need to adjust its policies to boost the yen’s strength in the face of escalating inflation and market pressures.
In Australia, the consumer price index saw its fifth consecutive quarter of slowing inflation, with the first quarter showing a 3.6% increase from a year ago. Despite this, the index still exceeded expectations, causing minimal impact on the S&P/ASX 200 index’s trading performance.
Moving to Japan, producer prices in the service sector rose by 2.3% year on year in March, nearing an eight-year high recorded in December. This increase reflects the changing dynamics of demand and supply within the services market, potentially influencing broader economic trends.
On the global front, there is increasing interest in the impact of AI technology on various industries. Fund managers are advising investors to explore opportunities in gold and copper stocks, noting the growing demand for these commodities in the context of geopolitical tensions and technological advancements.
Additionally, the recent launch of Intel’s Gaudi 3 AI chip has garnered attention, with expectations that it could benefit global semiconductor companies. Morgan Stanley forecasts a positive outlook for these companies as they contribute to the development of Intel’s latest innovation.
In the U.S., there are discussions around the future of earnings and economic growth amidst concerns of margin pressures and inflation. Analysts predict that market performance will align with earnings expectations, with potential fluctuations based on external factors such as interest rates and economic activity.