World Shares Mixed as AI Stocks Rise   12/22 04:53

   World shares were mixed on Monday after a rebound in AI-related stocks like 
Nvidia spurred a late-in-the-week rally on Wall Street.

   (AP) -- World shares were mixed on Monday after a rebound in AI-related 
stocks like Nvidia spurred a late-in-the-week rally on Wall Street.

   Germany's DAX edged 0.1% higher to 24,315.90, while the CAC 40 in Paris 
slipped 0.2% to 8,135.23. Britain's FTSE 100 shed 0.3% to 9,864.71.

   The future for the S&P 500 was up 0.4% while that for the Dow Jones 
Industrial Average gained 0.2%.

   In Asian trading, Tokyo's Nikkei 225 gained 1.8% to 50,402.39, helped by 
hefty gains for computer chip makers and other companies benefiting from the 
boom for artificial intelligence.

   Semiconductor maker Tokyo Electron jumped 6.3% while chip testing equipment 
maker Advantest gained 4.5%.

   Financial companies and exporters also saw gains after the Bank of Japan 
raised its key policy rate on Friday to its highest level in 30 years. Instead 
of causing the Japanese yen to strengthen as might be expected, it has fallen.

   Early Monday, the dollar bought 157.45 yen, down from 157.60 late Friday. 
Heavy selling of the yen for dollars caused a top Finance Ministry official in 
charge of foreign exchange issues, Atsushi Mimura, to warn that regulators 
would act to curb any excessive fluctuations in the currency.

   Hong Kong's Hang Seng picked up 0.4% to 25,901.77. The Shanghai Composite 
index advanced 0.7% to 3,917.36.

   China's central bank left its 1-year and 5-year loan prime rates unchanged, 
as expected.

   Elsewhere in Asia, South Korea's Kospi added 2.1% to 4,105.93 and Taiwan's 
Taiex was 1.6% higher, helped by a 2.5% gain for chip maker TSMC.

   In Australia, the S&P/ASX 200 picked up 0.9% to 8,699.90.

   "Asian equity markets are stepping onto the floor with a constructive bias, 
taking their cue from Friday's solid rebound in U.S. stocks and the growing 
belief that the final stretch of the year still belongs to the bulls," Stephen 
Innes of SPI Asset Management said in a commentary.

   On Friday, the S&P 500 rose 0.9%, edging 0.1% higher for the week. The Dow 
Jones Industrial Average rose 0.4%, while the Nasdaq composite index advanced 
1.3%, nothing a 0.5% gain for the week.

   Nvidia was the biggest force driving the market higher, with a 3.9% gain. 
Broadcom jumped 3.2%.

   The technology sector has been fueling Wall Street throughout the year as 
companies with outsized values like Nvidia exert more pressure on markets. But, 
those pricey stock values have come under more scrutiny from investors 
wondering whether they are justifiable.

   Oracle rose 6.6% on news that it, along with two other investors, had signed 
agreements to form a new TikTok U.S. joint ventur e. Oracle, Silver Lake and 
MGX each get a 15% share in the popular social video platform, ensuring that it 
can continue operating in the U.S.

   Homebuilders fell following a report showing that home sales slowed from a 
year earlier for the first time since May. KB Home fell 8.5%.

   A survey from the University of Michigan showed that consumer sentiment in 
December improved slightly from November, but is deeply diminished from a year 
earlier.

   Consumer confidence has been weakening throughout the year as persistent 
inflation squeezes consumers. The job market is also slowing while retail sales 
weaken. Businesses and consumers are also worrying about the continued impact 
of a wide-ranging U.S.-led trade war that has targeted key partners including 
China and Canada.

   Inflation is still above the Federal Reserve's 2% target. The central bank 
cut its benchmark interest rate at its most recent meeting. It has been 
concerned about the slowing job market hurting the economy. But cutting 
interest rates could add more fuel to inflation, which could also stunt 
economic growth.

   The Fed has maintained a cautious stance about interest rate policy heading 
into 2026 and Wall Street is mostly betting that it will hold steady on rates 
at its next meeting in January.

   In other dealings early Monday, U.S. benchmark crude oil gained 57 cents to 
$57.09 per barrel. Brent crude, the international standard, was up 58 cents at 
$61.05 per barrel.

   The euro climbed to $1.1726 from $1.1720.