Asian stocks trimmed their losses after technology shares in China rallied with Alibaba Group Holding Ltd. vowing to increase investments in artificial intelligence. Chinese semiconductor stocks joined the rally after Morgan Stanley upgraded its view on the sector and Huawei Technologies Co. unveiled plans to overtake Nvidia Corp. in AI chips. Alibaba jumped as much as 7.2% in Hong Kong, where trading volumes were subdued as the city was slammed by Super Typhoon Ragasa. MSCI’s gauge of Asian shares was down 0.1%, off session lows. Stock-index futures showed a weaker open for Europe while contracts for the US edged up 0.1%. Oil rose as President Donald Trump ramped up his rhetoric against Russia. Treasuries held their gains as Federal Reserve Chair Jerome Powell warned of persistent risks in the labor market and inflation, while reiterating policymakers faced a difficult path in weighing further easing. Global stocks have rallied this year as worries over Trump’s tariff war faded and investors speculate on further Fed rate cuts. Technology shares have fueled much of the rebound in equities from their April lows, as optimism over artificial intelligence and demand for AI-linked companies offset worries about slowing growth and higher rates. Alibaba’s shares surged to their highest in almost four years after it announced plans to ramp up spending on AI infrastructure to better compete with US rivals. The company sees global investment in AI accelerating rapidly, Chief Executive Officer Eddie Wu said. To keep up, Alibaba will soon add to its February plan to spend more than 380 billion yuan ($53 billion) on developing AI models and infrastructure over three years. Meanwhile, Super Typhoon Ragasa lashed Hong Kong in what could be the city’s most powerful storm in seven years. The city’s bankers and traders hunkered down at home or booked hotels near the office as trading got underway. In geopolitical news, Trump struck a more sympathetic tone on Ukraine’s chances of winning the war and said NATO nations should shoot down Russian aircraft that violated their airspace. Asian defense stocks such as Hanwha Aerospace Co. rose. Oil extended its gains on mounting risks to Russian supply, including strikes by Ukraine on energy infrastructure and heightened tensions with NATO. Brent rose toward $68 a barrel after gaining 1.6% on Tuesday. Russia also mulled restrictions on diesel exports for some companies. In the US, some Fed policymakers were becoming more concerned about growing risks to the labor market, while others remained primarily worried about the possibility that above-target inflation could be pushed higher by tariffs and other policies. Fed Governor Michelle Bowman said officials need to act decisively to bring down rates as the labor market weakens. Fed Bank of Atlanta President Raphael Bostic said he sees more inflation coming, echoing remarks from his Chicago counterpart Austan Goolsbee. Meantime, a gauge of Australia’s monthly inflation accelerated in August to the top of the central bank’s target, supporting the case for rates to remain on hold. The currency rose and the policy-sensitive three-year government bond yields climbed as traders pared expectations for the next rate cut. Elsewhere, New Zealand named Anna Breman, currently First Deputy Governor of Sweden’s Riksbank, as the new governor of its central bank. Breman is the first woman named to head the Reserve Bank of New Zealand. US After Hours LAC +72% on Reuters report that Trump administration is seeking equity stake; MU +2.8% higher on earnings; WOR -4.6%, AIR -1.1% lower on earnings.
Nikkei +0.09% Hang Seng +0.91% CSI +0.63% Shanghai +0.53% Shenzen +1.04%
Eur$ 1.1801 CNH 7.1194 CNY 7.1161 JPY 147.93 GBP 1.3508 CHF 0.7923 RUB 83.5280 +0.11% TRY 41.4317 -0.05% WTI$ 63.55 +0.22% Gold 3,768 +0.11% BTC 112,230 +0.17% ETH 4,146 -0.75%
S&P +0.09% Nasdaq +0.10% EuroStoxx -0.27% FTSE -0.19% Dax -0.21% SMI +0.23%
Macro :
- Trump Says NATO Should Down Russian Jets Breaching Airspace
- ETP Boom Won’t Trigger ‘Volmageddon’, BofA Says: Equity Insight
- Italy’s Giorgetti Says Bank Fiscal Contribution Necessary: Ansa
- UK Defends Green-Energy Push After Trump Says It’s ‘Suicidal’
Keep an eye on :
Keep an eye on :
- ABVX FP : Abivax Announces Presentation of Late-Breaking Abstract for Obefazimod from the ABTECT Phase 3 Induction Trials at 2025 United
- ADYEN NA : Stripe’s Valuation Rises Above Its 2021 Peak to $106.7 Billion - Axios
- AIR FP : China’s Comac Said to Slash Delivery Targets for Its C919 Jet
- AA US : Alcoa CEO Warns Tariffs Will Destroy Metal Demand as Prices Rise
- 9988 HK : BABA US : Alibaba Shares Soar After CEO Hikes AI Spending Past $50 Billion +7.20% in HK
- AAD GY : Amadeus Fire Buys Masterplan for EU20m
- ANTIN FP : Antin to Buy Aquavista; No Terms
- AAPL US : JD-Backed ATRenew Sees iPhone 17 Launch Driving Trade-In Surge
- ASKER SS : Swedish Pension Fund Offers 10% Stake in Asker After Rally, Asker Healthcare Group Offering by Holder Prices at SEK81/Share
- AOF GY : Atoss Software Shares Gain as CEO Andreas Obereder Adds to Stake
- BIIB US : Biogen Faces FDA Setback on High Dose Nusinersen
- Biogroup : Biogroup Mulls Strategic Options in View of Sale, Les Echos Says
- CAN LN : Disney Plus is getting another price hike
- CAT US : Ex-Russian PM’s Son Looks to Buy Caterpillar Assets: Kommersant
- CIFR US : Cipher Mining Shares Jump on Oracle Cloud Expansion Speculation
- Cityvarasto IPO : Cityvarasto Plans to Raise €15 Million in First North IPO
- DIS US : Disney Plus is getting another price hike
- ENVI NA : Envipco Offers EU50 million Shares, Envipco Offering of 8.4m Shares Prices at NOK75/Share
- EXA FP : Delta Placing of Exail Tech Shares Up to ~EU65M: Terms
- XOM US : ExxonMobil’s Guyana Oil Contract Queried by Democratic Senators
- FAT US : FAT Brands, Bondholders Working With Advisers for Restructuring Talks -- WSJ
- JD US : 9618 HK : JD.com, Meituan Gain as China Urges Fair Delivery Competition +2.34% in HK
- KVUE US : Tylenol Maker Kenvue Faces Mounting Crisis After Trump’s Rebuke
- KER FP : For Gucci-owner Kering, cost-cutting is an up-and-coming trend - FT Lex
- KER FP : Demna’s Debut at Gucci: Industry Experts React to ‘La Famiglia’ First Collection - WWD
- KGF LN : Kingfisher’s Beat-and-Raise; Luxury Gains: Stoxx 600 Sector Wrap
- KGF LN : Kingfisher’s Beat-and-Raise; Luxury Gains: Stoxx 600 Sector Wrap
- LAC CN : Lithium Americas Jumps After Reuters Reports US Eyes Stake
- MC FP : LVMH to Acquire Challenges Magazine: Le Figaro
- MBG GY : Mercedes Contract Manufacturer to Cut Almost One-Third of Staff
- 3690 HK : MPNGY US : JD.com, Meituan Gain as China Urges Fair Delivery Competition +2.08% in HK
- METSO FH : Metso Sets New Annual Sales Growth Target for 2028-end
- MU US : Micron Gains as Strong Forecast Shows AI Demand
- NANO FP : ADR +12.36% @ $14.45 --> 12.25 euros, closed at 11.50 in Paris (6.5%)
- NIO US : Nio Shares Rise After Citi Sees Upside on Strong Order Forecast +3.72% in HK
- NDX1 GY : Nordex Gets Order for 50 MW Wind Farm in Spain
- NOVOB DC : Tata 1mg likely to get $200 mn booster shot; Novo, CPPIB, Permira and ChrysCap line up
- NYXH BB :
- PLTR US : Boeing, Palantir Partner to Deploy AI Across Defense Production
- SAN FP : Sanofi Commits Additional $625 Million to Sanofi Ventures Fund
- SAP GY : The AI Threat to Europe's Most Valuable Software Company
- SOF BB : *SOFINA RIGHTS ISSUE ORDER OF ABOUT EU546M: TERMS
- STLA IM : Stellantis to Pause Production at Plants Due to Weak Demand
- TAP PL : Portugal Says Statements of Interest in TAP Sale Due by Nov. 22
- TE US : TechnipFMC Gets Subsea Production Systems Contract by Petrobras
- Tether : Tether CEO Says Evaluating Fundraise From Key Investors
- UBSG SW : UBS Pays €835m, Ends French Tax-Dodge Saga: EMEA Financials Wrap
- VWS DC : Vestas Adds 320 MW of Orders to 3Q Order Intake
- VOLVB SS : Volvo Car to Offset Tariff With New Model Bound for US Plant
- WOR US : Worthington Enterprises 1Q Adjusted EPS Beats Estimates