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The G7 announced two dozen new projects Friday aimed at reducing China’s dominance of critical mineral supply chains, as Canada’s energy minister vowed the alliance was “serious” about reforming the global market. The deals, announced as Group of Seven energy ministers concluded a meeting in Toronto, involve a range of metals essential to high-tech products, including the rare earth materials where China has built outsized control.The initial steps taken by the newly launched G7 Critical Minerals Production Alliance “sends the world a very clear message,” Canada’s Energy Minister Tim Hodgson told reporters.”We are serious about reducing market concentration and dependencies,” he said, referencing China. Ministers from Britain, Canada, France, Germany, Italy, Japan, and the United States met in Toronto after US President Donald Trump and China’s President Xi Jinping reached a deal that will see Beijing suspend certain rare earth export restrictions for at least one year.Rare earths are needed to make the magnets used in a range of sophisticated products, and the prospect of China limiting exports had rattled markets.China has overwhelming dominance in the processing of rare earths, and Hodgson conceded that broadening supply chains would take time. He said the goal was building systems that stretch from “from mine to magnet.””That doesn’t exist in the West today…It will take time,” he said. The 26 projects announced include partnerships across the G7 and its allies, but the United States has not initially signed on to a specific arrangement. – Non-market tactics -By US Energy Secretary Chris Wright, who attended the meeting, had earlier told reporters that Trump’s administration was in full alignment with G7 allies on countering China’s market influence. There was “no disagreement within the group,” Wright said. He also said the G7 will have to use “non-market” tactics to counter China’s position.”China, frankly, just used non-market practices to squish the rest of the world out of manufacturing those products, so it got strategic leverage. Everybody sees that now,” Wright told reporters.”We need to establish our own ability to mine, process, refine, and create the products that come out of rare earth elements,” Wright said.”We’re going to have to intervene and use some non-market forces.”Repeating a widely shared accusation made against Beijing, Wright said China had used its rare earth stockpiles to manipulate global prices.”As soon as you start to invest, someone floods the market and crushes the prices. (China has) chilled investments,” he said.

Wall Street stocks rebounded on Friday as investors welcomed strong earnings reports by Amazon and Apple.But Europe and Asian stock markets mostly fell at the end of a fluctuating week as traders reacted to company earnings, central bank decisions and a tentative US-China trade truce.Wall Street had ended lower on Thursday, with bloated AI spending by Meta reviving worries among investors. But US stocks rebounded Friday, boosted by Amazon reporting better-than-expected earnings that were driven by surging demand for its cloud computing services. Shares of Amazon finished up 9.6 percent.Apple also posted quarterly sales that beat estimates, powered by iPhone and services revenue, while Netflix shares jumped after it announced a 10-for-one stock split.”Investors remain bullish thanks to strong gains across tech and semiconductor stocks driven by optimism over the future of artificial intelligence,” said David Morrison, senior market analyst at financial services provider Trade Nation.Investor confidence in artificial intelligence lifted markets at the start of the week, pushing Nvidia to become the first firm with a $5 trillion market value and sending several stock markets to record highs.Sentiment was further boosted by a detente in the US-China trade war which has shaken global markets, although momentum faded as the two sides stopped short of producing a signed agreement.While the Fed on Wednesday cut interest rates as expected, Chairman Jerome Powell’s follow-up comments that another reduction by the end of the year was not guaranteed dampened sentiment as investors had been expecting another cut at the US central bank meeting in December.The European Central Bank and Bank of Japan held their rates steady Thursday.The ECB’s stance was reinforced by data Friday showing inflation eased closer to the central bank’s two-percent target in October. European stocks ended the day lower.In Asia, Tokyo’s main benchmark gained more than two percent on Friday while Seoul added half a percent, with both reaching record closes.Japan’s climb came despite a plunge in Nissan shares after the auto giant said it expected to suffer an operating loss in its current fiscal year ending in March.- Key figures at around 2010 GMT -New York – Dow: UP 0.1 percent at 47,562.87 (close)New York – S&P 500: UP 0.3 percent at 6,840.20 (close)New York – Nasdaq Composite: UP 0.6 percent at 23,724.96 (close)London – FTSE 100: DOWN 0.4 percent at 9,717.25 (close)Paris – CAC 40: DOWN 0.4 percent at 8,121.07 (close)Frankfurt – DAX: DOWN 0.7 at 23,958.30 (close)Tokyo – Nikkei 225: UP 2.1 percent at 52,411.34 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 25,906.65 (close)Shanghai – Composite: DOWN 0.8 percent at 3,954.79 (close)Euro/dollar: DOWN at $1.1527 from $1.1565 on ThursdayPound/dollar: DOWN at $1.3139 from $1.3151Dollar/yen: DOWN at 154.11 yen from 154.13 yenEuro/pound: DOWN at 87.74 from 87.94 penceWest Texas Intermediate: UP 0.7 percent at $60.98 per barrelBrent North Sea Crude: UP 0.1 percent at $65.07 per barrelburs-jmb/iv

Wall Street stocks moved higher on Friday as investors welcomed strong earnings reports by Amazon and Apple.But Europe and Asian stock markets mostly fell at the end of a fluctuating week as traders reacted to company earnings, central bank decisions and a tentative US-China trade truce.Wall Street had ended lower on Thursday, with bloated AI spending by Meta reviving worries among investors. But after trading ended sentiment was boosted by Amazon reporting better-than-expected earnings driven by surging demand for its cloud computing services.Apple also posted quarterly sales that beat estimates, powered by iPhone and services revenue.The tech-heavy Nasdaq Composite jump 1.5 percent at the open of trading on Friday in New York as Amazon shares soared more than 11 percent.”Investors remain bullish thanks to strong gains across tech and semiconductor stocks driven by optimism over the future of artificial intelligence,” said David Morrison, senior market analyst at financial services provider Trade Nation.While Wall Street’s main indices gave up some of their gains as the day wore on, Amazon shares were still up over 10 percent in early afternoon trading.Shares in Apple were 0.6 percent higher.Shares in AI chipmaker Nvidia gained 2.1 percent after it said on Friday it will supply 260,000 of its most cutting-edge chips to South Korea.Investor confidence in artificial intelligence lifted markets at the start of the week, pushing Nvidia to become the first firm with a $5 trillion market value and sending several stock markets to record highs.Sentiment was further boosted by a detente in the US-China trade war that has shaken global markets, though momentum faded as the two sides stopped short of producing a signed agreement.While the Fed on Wednesday cut interest rates as expected, Powell’s follow-up comments that another reduction by the end of the year was not guaranteed dampened sentiment as investors had been expecting another cut at the US central bank meeting in December.The European Central Bank and Bank of Japan held their rates steady Thursday.The ECB’s stance was reinforced by data Friday showing inflation eased closer to the central bank’s two-percent target in October. European stocks ended the day lower.In Asia, Tokyo’s main benchmark gained more than two percent on Friday while Seoul added half a percent, with both reaching record closes.Japan’s climb came despite a plunge in Nissan shares after the auto giant said it expected to suffer an operating loss in its current fiscal year ending in March.- Key figures at around 1630 GMT -New York – Dow: FLAT at 47,532.45 pointsNew York – S&P 500: UP 0.3 percent at 6,840.17New York – Nasdaq Composite: UP 0.7 percent at 23,736.34 London – FTSE 100: DOWN 0. percent at 9, (close)Paris – CAC 40: DOWN 0. percent at 8, (close)Frankfurt – DAX: DOWN 0. at 24, (close)Tokyo – Nikkei 225: UP 2.1 percent at 52,411.34 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 25,906.65 (close)Shanghai – Composite: DOWN 0.8 percent at 3,954.79 (close)Euro/dollar: DOWN at $1.1537 from $1.1564 on ThursdayPound/dollar: DOWN at $1.3135 from $1.3142Dollar/yen: UP at 154.13 yen from 154.06 yenEuro/pound: DOWN at 87.83 from 87.98 penceWest Texas Intermediate: FLAT at $60.57 per barrelBrent North Sea Crude: DOWN less than 0.1 percent at $64.32 per barrelburs-rl/st

G7 countries will have to use “non-market” tactics to curb China’s dominance in rare earth production, the US energy secretary said Friday, calling the effort a “strategic necessity.”Energy ministers from the Group of Seven meeting in Toronto this week are working on a coordinated effort to diversify supply chains of the materials vital to high-tech products, where China has built outsized control.”China, frankly, just used non-market practices to squish the rest of the world out of manufacturing those products, so it got strategic leverage. Everybody sees that now,” US Energy Secretary Chris Wright told reporters.”We need to establish our own ability to mine, process, refine, and create the products that come out of rare earth elements,” Wright said.”We’re going to have to intervene and use some non-market forces.”Repeating a widely shared accusation made against Beijing, Wright said China had used its rare earth stockpiles to manipulate global prices.”As soon as you start to invest, someone floods the market and crushes the prices. (China has) chilled investments,” he said.Wright did not specify what type of non-market practices President Donald Trump’s administration would support.But experts have called on the G7 and its allies to back policies that favor suppliers which bypass Chinese-controlled firms and use public subsidies to support new initiatives that could broaden the market. Energy ministers from Britain, Canada, France, Germany, Italy, Japan, and the United States are meeting in Toronto after Trump and China’s President Xi Jinping reached a deal that will see Beijing suspend certain rare earth export restrictions for at least one year.Rare earths are needed to make a range of sophisticated products, and the prospect of China limiting exports had rattled markets.Trump’s tariffs have strained relations within the G7, but Wright said there was “no disagreement within the group” on the need to diversify rare earth supply chains.Canada’s Energy Minister Tim Hodgson, who is hosting the meeting which ends on Friday, said the G7 is aiming to launch a new alliance to upend the global supply of critical minerals, including rare earths.The alliance would mobilize private investment and advance other policies to expand critical mineral production that bypasses China.

The EU’s commissioner for trade on Friday said China’s one-year suspension on its restrictions of rare earth materials would apply to the bloc as well as the United States.”My understanding is that the agreement, which was found between the US and China in this matter, is ‘erga omnes’, so we should apply it to all and, of course, including the European Union,” Maros Sefcovic told reporters during a visit to Rome.Following discussions with the United States, China on Thursday said it would suspend certain export restrictions announced in October, including on rare earth materials, for one year.The controls on rare earths — a major sticking point in trade negotiations between US President Donald Trump and China’s President Xi Jinping this week — have rattled markets and snarled supply chains. Sefcovic, who met both with Italy’s Agriculture Minister Francesco Lollobrigida and Foreign Minister Antonio Tajani, said the EU was now having “high-level official talks on export controls” with China.”I will speak again with my Chinese counterpart very, very soon,” he added.- EU bloc bidding -China is the world’s leading producer of the minerals used to make magnets that are crucial to the auto, electronics and defence industries.Separate to the October restrictions, it has since April required licences for certain exports, a system Sefcovic said was not working. “We have not very positive experience with the issuing of export licenses for the rare earths,” he said.Only 50 percent of EU applications had been “properly processed” so companies received the needed rare earth materials, he noted.”It has direct implications on the production capacities of the companies in the EU.”After meeting Tajani at the foreign ministry, Sefcovic told reporters he envisioned a “common purchase of critical raw materials” by the EU. “We can do the bidding on behalf of the biggest trading bloc in the world, which is the European Union, and to get the critical raw materials for a better price,” he saidThe stockpiles would be “stored in Europe so we will not be under this permanent tension”.Tajani proposed that Italy could host such a storage site. – ‘Dumping’ dispute -Sefcovic also said the EU was backing Italy, which is facing punitive tariffs on exports of pasta to the United States, by showing its US counterparts that their “surprising” accusation of dumping was unfounded. Last month, the US Department of Commerce said it would impose provisional anti-dumping duties of over 91 percent on Italian pasta makers from January. This would be applied on top of the 15-percent tariff imposed on all EU imports.”This was a very surprising move from the United States towards the European Union, towards pasta producers,” Sefcovic said. He said he believed the commerce department “didn’t have proper or enough detailed information from some producers of pasta in Italy” so the EU, along with Italy and its pasta producers, was working to provide it.

Controversial online fast-fashion seller Shein will open its first bricks and mortar store in the world in Paris next week, its new landlord announced Friday.The planned opening by the Asian clothing giant has been opposed by politicians, unions, top fashion brands and in a petition, but the storied BHV department store in central Paris insisted the move would go ahead next Wednesday.Founded in China in 2012, but now with a headquarters in Singapore, Shein has faced criticism over working conditions in Chinese factories making clothes sold on the platform, its marketing tactics to tempt young people and its environmental impact.But its value has skyrocketed in recent years and it has overtaken many traditional high street fashion brands.Societe des Grands Magasins (SGM) president Frederic Merlin, whose group manages the BHV Maris department store, said in a social media post that next week’s opening would be a “world first” for Shein.SGM, which has denounced “political pressure” against bringing in the Shein boutique, said that five more permanent Shein shops would be opened in Galeries Lafayette stores around France also managed by the group.Since the Shein announcement was made Disneyland Paris has abandoned plans to open a pop-up store in BHV while workers at the Paris store have staged a strike over the plan. A French state-owned bank has pulled out of talks with SGM to purchase the Paris building.Shein and other fast-fashion giants, such as Temu, have been targeted in a proposed new French law that would restrict its advertising and impose tighter environmental regulation.It has already been ordered to pay fines totalling 191 million euros ($221 million) for breaching French laws on the use of internet cookies, false and misleading advertising and failing to declare the presence of microplastics in its products.Italy’s competition watchdog has also fined Shein one million euros over its claims to be environmentally green.

Europe and Asian stock markets mostly fell Friday at the end of a fluctuating week as traders reacted to company earnings, central bank decisions and a tentative US-China trade truce.Mid-week comments from Federal Reserve Chair Jerome Powell have cast doubt over another cut to US interest rates in December.”The main culprit (for Friday’s losses) was uncertainty about the future policy of the Federal Reserve,” said AJ Bell investment director Russ Mould.”The negative response to Meta’s bloated AI spending also contributed to… selling, although US futures paint a brighter picture off the back of a surge in Amazon’s shares,” he added.Investor confidence in artificial intelligence had lifted markets at the start of the week, pushing California-based chip designer Nvidia to become the first $5 trillion firm and sending several stock markets to record highs.Sentiment was further boosted by a detente in the US-China trade war that has shaken global markets, though momentum faded as the two sides stopped short of producing a signed agreement.While the Fed on Wednesday cut interest rates as expected, Powell’s follow-up comments that another reduction by the end of the year was not guaranteed hit sentiment.The European Central Bank and Bank of Japan held their rates steady Thursday.The ECB’s stance was reinforced by data Friday showing inflation eased closer to the central bank’s two-percent target in October. European stocks slipped in Friday midday trades, tracking losses on Wall Street, where the Nasdaq closed down 1.6 percent Thursday.An earnings report released by Apple after US markets closed showed quarterly revenue that beat estimates, powered by iPhone and services revenue.Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services.In Asia, Tokyo’s main benchmark gained more than two percent on Friday while Seoul added half a percent, with both reaching record closes.Japan’s climb came despite a sharp plunge in Nissan shares after the automotive giant said it expected to suffer an operating loss in its current fiscal year ending in March.Trading in Seoul ended just after an announcement by Nvidia that it will supply 260,000 of its most cutting-edge chips to South Korea.In Hong Kong, shares of Chinese electric vehicle powerhouse BYD tumbled after results announced on Thursday evening showed a 33 percent year-on-year slump in third-quarter profit.Hong Kong’s main benchmark closed the day down 1.4 percent, while Shanghai finished 0.8 percent lower.Challenges in the Chinese economy were further highlighted by official data on Friday that showed factory activity shrinking in October for the seventh successive month.President Xi Jinping and US counterpart Donald Trump struck several key deals during Thursday’s meeting that had been anticipated by observers.Washington agreed to cut some tariffs on Chinese goods, while Beijing committed to keeping supplies of critical rare earths flowing.Trump and Xi have not yet signed a comprehensive trade agreement, and experts say the meeting amounted to a tentative one-year truce in the trade war between the world’s top two economies.- Key figures at around 1140 GMT -London – FTSE 100: DOWN 0.3 percent at 9,727.42 pointsParis – CAC 40: DOWN 0.2 percent at 8,142.16Frankfurt – DAX: DOWN 0.3 at 24,059.15Tokyo – Nikkei 225: UP 2.1 percent at 52,411.34 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 25,906.65 (close)Shanghai – Composite: DOWN 0.8 percent at 3,954.79 (close)New York – Dow: DOWN 0.2 percent at 47,522.12 (close)Euro/dollar: DOWN at $1.1559 from $1.1564 on ThursdayPound/dollar: DOWN at $1.3117 from $1.3142Dollar/yen: UP at 154.16 yen from 154.06 yenEuro/pound: UP at 88.15 from 87.98 penceWest Texas Intermediate: DOWN 0.4 percent at $60.33 per barrelBrent North Sea Crude: DOWN 0.4 percent at $64.11 per barrel

US tech giant Nvidia said on Friday it will supply 260,000 of its most cutting-edge chips to South Korea, as CEO Jensen Huang met President Lee Jae Myung and the heads of the country’s biggest companies on the sidelines of the APEC summit. South Korea is home to two of the world’s leading memory chip makers — Samsung Electronics and SK hynix — which manufacture chips essential for artificial intelligence products and the data centres that the fast-evolving industry relies on.President Lee has also expressed his hope that the country can become the world’s third AI power after the United States and China.Speaking to media after the announcement, Huang said that goal was “ambitious”.But, he said, “there’s no reason why Korea cannot achieve it — you have the technology, you have the software expertise and you also have a natural ability to build manufacturing plants”.Nvidia has been caught in the middle of that geopolitical tussle.Its chips are currently not sold in China due to a combination of Beijing government bans, US national security concerns and ongoing trade tensions.Huang has urged the United States to allow the sale of US-made AI chips in China in order to ensure Silicon Valley companies remain a global powerhouse in providing artificial intelligence.”The US government and the Chinese government have to decide what role they would like Nvidia to play,” Huang told reporters on Friday. “I’ve been very clear that having Nvidia technology in China is in the best interest of the United States and in the best interest of China as well,” he said.”I’m optimistic,” he added.And asked if he wanted Nvidia’s most high-tech chip, the Blackwell, to be sold in China, he said: “I hope so”.”But that’s a decision for President Trump to make.”Nvidia’s chips featured in talks between US President Donald Trump and Chinese leader Xi Jinping in Gyeongju this week.Beijing has ramped up its chip industry to beat Washington’s export restrictions on the critical component used to power AI systems.- Chicken and chips -Under Friday’s deal, 50,000 of the graphics processing units will go towards a new “AI factory” being built by Samsung Electronics. “By deploying more than 50,000 Nvidia GPUs, AI will be embedded throughout Samsung’s entire manufacturing flow,” the Korean tech giant said.SK Group and Hyundai Motor Group will also receive 50,000 chips for use in AI facilities.NAVER Cloud — which operates South Korea’s largest search engine — will receive 60,000 to expand its AI infrastructure. A further 50,000 will be deployed across Seoul’s National AI Computing Center and to cloud service and IT providers.Huang has sought to forge closer ties with South Korean tech giants in his visit to the country this week.He met Samsung Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Eui-sun on Thursday for “chimaek” — a beloved South Korean pairing of fried chicken and beer — in the capital Seoul.The restaurant, Kkanbu, was reportedly chosen by Nvidia because the term — popularised by Netflix’s megahit “Squid Game” and meaning “friend” — was intended to highlight the spirit of friendship underpinning their AI and chip collaborations.Nvidia in July became the first company to top $4 trillion in market capitalisation, and followed that up by becoming the first to hit $5 trillion following an event on Tuesday where it announced new ventures building on its AI technology.

Asian stock markets presented a mixed bag on Friday, with falls in China and gains in Japan and South Korea coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon.Investor confidence in artificial intelligence has fuelled a rally in global stock markets this week that made California-based chip designer Nvidia the first $5 trillion firm.Rosy sentiment was further boosted by a detente in the US-China trade war, with leaders agreeing on Thursday to walk back punitive measures that had disrupted international supply chains and manufacturing sectors.But that boom showed signs of flagging on Thursday as investors processed comments by US Federal Reserve Chair Jerome Powell the previous day that cast doubt on another interest rate cut in December.The three major Wall Street indices retreated on Thursday, with the Nasdaq dropping the most at 1.6 percent.An earnings report released by Apple after US markets closed showed quarterly revenue that beat estimates, powered by iPhone and services revenue.Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services.Tokyo’s main benchmark gained more than two percent on Friday while Seoul added half a percent, with both reaching record closes.Japan’s climb came despite a sharp plunge in Nissan shares after the automotive giant said it expected to suffer an operating loss in its current fiscal year ending in March.Trading in Seoul ended just after an announcement by Nvidia that it will supply 260,000 of its most cutting-edge chips to South Korea.The statement came as CEO Jensen Huang met South Korean President Lee Jae Myung on the sidelines of the APEC summit. Also in attendance on Friday were leaders including Chinese President Xi Jinping and Prime Minister Mark Carney of Canada.Taipei finished slightly down and Sydney closed flat.In Hong Kong, shares of Chinese electric vehicle powerhouse BYD tumbled after results announced on Thursday evening showed a 33 percent year-on-year slump in third-quarter profit.Hong Kong’s main benchmark closed the day down 1.4 percent, while Shanghai finished 0.8 percent lower.”While (BYD’s) near-term domestic growth may face headwinds from ongoing price discipline and evolving government policies, the international segment offers a robust counterbalance,” HSBC analyst Yuqian Ding said in a report.Challenges in the Chinese economy were further highlighted by official data on Friday that showed factory activity shrinking in October for the seventh successive month.Xi and US President Donald Trump struck several key deals during Thursday’s meeting that had been anticipated by observers.Washington agreed to cut some tariffs on Chinese goods, while Beijing committed to keeping supplies of critical rare earths flowing.Trump and Xi have not yet signed a comprehensive trade agreement, and experts say the meeting amounted to a tentative one-year truce in the trade war between the world’s top two economies.Europe opened lower Friday, with main benchmarks in London, Paris and Frankfurt slightly down in morning trading.- Key figures at around 0830 GMT -Tokyo – Nikkei 225: UP 2.1 percent at 52,411.34 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 25,906.65 (close)Shanghai – Composite: DOWN 0.8 percent at 3,954.79 (close)London – FTSE 100: DOWN 0.2 percent at 9,738.34West Texas Intermediate: DOWN 0.2 percent at $60.46 per barrelBrent North Sea Crude: DOWN 0.1 percent at $64.97 per barrelEuro/dollar: UP at $1.1566 from $1.1564 on ThursdayPound/dollar: FLAT at $1.3142 from $1.3142Dollar/yen: UP at 154.33 yen from 154.06 yenEuro/pound: UP at 88.01 from 87.98 penceNew York – Dow: DOWN 0.2 percent at 47,522.12 (close)

Asian stock markets mostly rose Friday morning, with a surge in Japanese shares coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon.Investor confidence in artificial intelligence has fuelled a rally in global stock markets this week that saw California-based chip designer Nvidia become the first-ever $5 trillion firm.Rosy sentiment was further boosted by a detente in the US-China trade war, with top leaders agreeing Thursday to walk back punitive measures that had disrupted international supply chains and manufacturing sectors.But that boom showed signs of flagging Thursday, as investors processed comments the previous day by US Federal Reserve Chair Jerome Powell that cast doubt on another interest rate cut in December.The three major Wall Street indices retreated, with the Nasdaq dropping the most at 1.6 percent.After US markets closed, an earnings report released by Apple showed quarterly revenue that beat estimates, powered by iPhone and services revenue.Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services.In Friday morning Asian trading, Tokyo’s main benchmark surged by more than one percent, while Seoul, Sydney and Taipei were also up.Japan’s climb came despite a sharp plunge of nearly eight percent in Nissan shares, after the automotive giant said it expected to suffer an operating loss in its current fiscal year ending in March.In Hong Kong, shares of Chinese electric vehicle powerhouse BYD fell by more than five percent after results announced Thursday evening showed a 33-percent year-on-year slump in third-quarter profit.Stock exchange benchmarks in Hong Kong and Shanghai were both slightly down Friday morning.”While (BYD’s) near-term domestic growth may face headwinds from ongoing price discipline and evolving government policies, the international segment offers a robust counterbalance,” said HSBC analyst Yuqian Ding in a report.Challenges in the Chinese economy were further highlighted by official data Friday that showed factory activity shrinking in October for the seventh month in a row.Thursday’s meeting between US President Donald Trump and Chinese counterpart Xi Jinping saw the leaders strike several key deals that had been anticipated by observers.Among them, Washington agreed to cut some tariffs on Chinese goods, and Beijing committed to keep supplies of critical rare earths flowing.Trump and Xi have not yet signed a comprehensive trade agreement, and experts say the meeting amounts to a tentative one-year truce in the trade war between the world’s top two economies.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: UP 1.2 percent at 51,959.37Hong Kong – Hang Seng Index: DOWN 0.1 percent at 26,254.83Shanghai – Composite: DOWN 0.2 percent at 3,978.84West Texas Intermediate: DOWN 0.5 percent at $60.27 per barrelBrent North Sea Crude: DOWN 0.4 percent at $64.72 per barrelEuro/dollar: UP at $1.1574 from $1.1564 on ThursdayPound/dollar: UP at $1.3156 from $1.3142Dollar/yen: DOWN at 153.76 yen from 154.06 yenEuro/pound: DOWN at 87.97 from 87.98 penceNew York – Dow: DOWN 0.2 percent at 47,522.12 (close)London – FTSE 100: FLAT at 9,760.06 (close)