Asian Shares Rise Amid AI Enthusiasm

Group 1: Market Performance - Asian stocks ended mostly higher, driven by optimism in chipmaking and related sectors due to artificial intelligence developments [1] - The Shanghai Composite index surged 1.32% to 3,933.97, buoyed by renewed AI optimism despite weak consumer spending reports [2] - Japanese markets reached new record highs, with the Nikkei average jumping 1.77% to 48,580.44, led by tech stocks [3] Group 2: Company-Specific Developments - HSBC Holdings shares fell 6% after proposing to take its Hong Kong subsidiary, Hang Seng Bank Ltd., private [3] - SoftBank Group's shares soared 11.4% following a deal involving the robotics division of Swiss engineering firm ABB [4] - Nvidia plans to invest $2 billion into a $20 billion funding round for Elon Musk's AI venture, contributing to positive market sentiment [6] Group 3: Economic Indicators - The Federal Reserve's September meeting minutes indicated potential for more rate cuts through 2025, despite internal divisions regarding job and inflation outlooks [7] - U.S. home loan applications declined for the second consecutive week, but at a slower pace, indicating mixed economic signals [6]