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Japanese shares reached an all-time high as a pro-stimulus leader was elected, while US stocks also hit a record driven by chipmaker rallies. The yen experienced its largest drop in months ahead of a bond auction. Gold prices neared $4,000 an ounce amid a global equity surge fueled by AI investments.

Japan s Nikkei stock market reached an all-time peak on Tuesday. Chip-related stocks mirrored gains seen in the United States. However, the index saw its rise diminish as excitement surrounding a potential new leader of the ruling party cooled. Investors had previously bet on increased spending and loose monetary policy.

Indian markets saw a boost from global trends. The S&P 500 and Nasdaq touched record highs driven by artificial intelligence deals. AMD s partnership with OpenAI fueled this surge. Despite a US government shutdown, investor sentiment remained strong for AI-related companies. Upcoming earnings reports and economic data will be closely watched.

Oil prices held steady as a modest OPEC+ production hike offered little comfort against concerns of weakening global demand and a potential supply glut. While the group s decision to add 137,000 barrels daily starting November was smaller than expected, analysts point to increasing output from both OPEC+ and non-OPEC+ nations.

Gold prices surged to an all-time peak on Tuesday, driven by U.S. economic and political uncertainties and anticipated Federal Reserve interest rate cuts. Despite some Fed officials signaling caution on further reductions, markets are pricing in more cuts. This environment, coupled with strong central bank buying and investor demand for hedges, propelled gold s significant year-to-date gains.

India is set to launch its own RBI-backed digital currency, aiming for simpler, faster, and traceable transactions while reducing paper use. Union Minister Piyush Goyal emphasized that the nation discourages cryptocurrencies lacking sovereign or asset backing, imposing heavy taxes on them due to inherent risks and lack of accountability.

Wall Street reached new highs, driven by AI enthusiasm, with AMD soaring after an OpenAI chip deal. Concerns about inflated AI valuations persist as OpenAI expands its infrastructure partnerships. Meanwhile, international markets reacted to political shifts, with Japanese stocks rising and French stocks falling.

Japan s 30-year government bond yield hit an all-time high as fiscal dove Sanae Takaichi s leadership win positioned her for premiership. Ten-year JGB yields also reached 17-year peaks, pressured by rising Treasury yields and an upcoming auction. Investors remained cautious following previous weak demand at long-term debt auctions.