Stocks erased their losses as investors returned to AI-linked shares after a brief pullback in one of the market’s strongest trades this year.
The MSCI All Country World Index edged up 0.1% to hold near its record high, after falling as much as 0.2% earlier.
Asian shares recovered from a 1% drop to climb 0.3% after South Korea’s Kospi index — a bellwether for AI investments — wiped out all its losses. Chinese technology stocks also extended their gains as Tencent Holdings Ltd. jumped 8.8%.
Nasdaq 100 futures trimmed earlier losses to trade down 0.3%, suggesting renewed appetite for technology shares. As sentiment improved, equity-index futures for Europe extended gains to 0.6%. Gold climbed about 1% to $4,523 an ounce.
Japan’s 10-year government bond yield dropped after an auction of the tenor drew firm demand as investors were attracted to high yields despite the ongoing uncertainty in the Middle East. Treasuries also edged higher.
