Market Commentary: Thursday 9th October

The global stock market rally continued, driven by renewed enthusiasm for artificial intelligence (AI)–related companies. Asian equities gained 0.4%, led by tech firms such as SoftBank Group Corp.

MSCI’s global stock index rose for the ninth time in ten sessions, while mainland China’s shares surged 1.6% following the Golden Week holiday.

Gold prices eased from a record high above $4,000 as demand for safe-haven assets waned, while copper approached record levels. Oil prices fluctuated amid reports of a potential Israel–Hamas peace plan.

In Asia, attention focused on China’s post-holiday market reopening, where cautious consumer spending during Golden Week—evidenced by cheaper travel choices and underwhelming box office sales—contrasted with global AI-driven tech stock gains.

The yen strengthened slightly after hitting a low against the dollar, raising speculation of Japanese intervention.

Geopolitically, a breakthrough was reported in Israel–Hamas negotiations, with both sides agreeing to a hostage-release deal, potentially easing Middle East tensions.

In Europe, French President Emmanuel Macron announced plans to appoint a new prime minister, averting a snap election.

**For professional investors only** Any opinions, news, research, analyses, prices, or other information contained in this blog is provided as general market commentary and does not constitute (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. Some of this information may have been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is made or given by or on behalf of iSAM Securities or its directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this blog, and no responsibility or liability is accepted for any such information. As a result, any person acting on any information does so entirely at their own risk. iSAM Securities will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.