Asian Markets Waver as Anthropic IPO Looms and Fed Decision Approaches

Anthropic has filed paperwork for an initial public offering that could value the firm between $1.5 trillion and $2 trillion. Although the company has proven its ability to scale artificial intelligence products, eToro analyst Josh Gilbert noted that the company’s growth curve now faces intense scrutiny. Investors are questioning whether the firm can justify its aggressive valuation as its initial momentum begins to normalize.

Simultaneously, the Federal Reserve begins its policy meeting today. Despite widespread expectations for a rate hold, Allianz Global Investors’ Jenny Zeng warned against assuming a pivot is underway. Citing a resilient labor market and strong AI-related capital expenditure, Zeng anticipates a 25-basis-point increase in December. This outlook contrasts with the localized optimism seen in South Korea, where the Kospi climbed 4.0% following third-quarter GDP figures bolstered by a surge in semiconductor exports.

Energy markets reacted to cooling tensions between Washington and Tehran, with WTI crude dropping 0.95% to $100.79 a barrel. Diplomatic efforts in the Middle East provided some relief to traders, though Commonwealth Bank of Australia’s Harry Ottley cautioned that ongoing supply risks and regional hostilities maintain a significant risk premium on oil prices. Amid this backdrop, the Nikkei 225 added 1.9%, while the Hang Seng and Shanghai Composite remained largely range-bound.