TECH STOCK RALLY SET FOR A TEST AS NVIDIA RESULTS DUE

A bounceback by tech stocks around the world helped drive equity markets higher on Wednesday and set the scene for Nvidia's earnings report, while investors set aside their concerns around US tariffs - at least for now.

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A woman walks in front of a stock quotation board in Tokyo, Japan, July 23, 2025.

MSCI's world share index was up 0.3 percent with Europe's broad STOXX 600 up 0.46 percent and back at a record high and US futures also pointing to a rise at the open after indexes rallied on Tuesday.

More dramatic gains were seen in Asia where the APAC ex-Japan benchmark rose 1.44 percent driven by advances in chipheavy bourses like Korea and Taiwan, and Japan's Nikkei gained 2.2 percent.

A global memory chip shortage has seen Samsung Electronics and SK Hynix stock prices double since October, as cash has surged up the AI supply chain to the enormously popular chipmakers.

And while the AI fever has hurt software stocks globally in recent weeks on fears their business model could be disrupted, they continued to bounce back on Wednesday.