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Most Asian markets rose Thursday as traders welcomed the Federal Reserve’s third straight interest rate cut, though the euphoria was tempered by an indication officials could hold off another reduction any time soon.While the move had been priced in for several weeks, investors were cheered by the fact that bank boss Jerome Powell was “less hawkish” in his post-meeting remarks.The latest cut in borrowing costs — to their lowest level in three years — comes as monetary policymakers try to support the US jobs market, which has been showing signs of weakness for much of the year.Concern about the labour market has offset persistently high inflation, with some decision-makers confident the impact of Donald Trump’s tariffs on prices will ease over time.After a positive lead from Wall Street, most of Asia pushed higher.Hong Kong, Sydney, Seoul, Singapore, Wellington, Manila and Jakarta were all up, while Tokyo, Shanghai and Taipei dipped.However, traders have lowered their expectations for a string of further cuts in 2026 after the bank’s statement used language used in late-2024 to signal a pause in more rate cuts.Two members voted against the 25-basis-point cut, though one — Donald Trump appointee Stephen Miran — voted for a 50 points cut.Powell said officials were in a good position to determine the “extent and timing of additional adjustments based on the incoming data, the evolving outlook and the balance of risks”.He also said: “This further normalisation of our policy stance should help stabilise the labour market while allowing inflation to resume its downward trend toward two percent once the effects of tariffs have passed through.”Matthias Scheiber and Rushabh Amin at Allspring Global Investments wrote: “As 2026 begins, we believe the makeup of the board’s voting members will come into greater focus and that, while the market is relatively optimistic (pricing in two more rate cuts by the end of 2026), we expect cuts will come after June.”Still, there was plenty of optimism about the outlook for equities, with Axel Rudolph, market analyst at IG, writing ahead of Wednesday’s announcement: “The Fed… has room to ease policy without reigniting inflation concerns.”Disinflation is sufficiently entrenched that rate cuts can proceed at a measured pace, providing a tailwind for risk assets without requiring an economic crisis to justify them.”This ‘Goldilocks’ scenario of growth with easing financial conditions is exactly what equity markets need.”And CFRA Research’s Sam Stovall said Powell’s remarks were “less hawkish than a lot of investors had anticipated” and that he “did sound very supportive of cutting rates more if need be”.Earnings from US software giant Oracle provided a jolt to investors as it revealed a surge in spending on data centres to boost its artificial intelligence capacity. The news comes as investors grow increasingly worried that the vast sums splashed out on the AI sector will not see the returns as early as hoped. And shares in Jingdong Industrials — the supply chain unit of Chinese ecommerce titan JD.com — briefly slipped as much as 10 percent on the firm’s Hong Kong debut, having raised more than US$380 million in an initial public offering.The dollar extended losses against its main peers, while gold — a go-to asset as US rates fall — pushed around one percent higher to sit above $4,200.Silver hit a fresh record high of $62.8863, having broken $60 for the first time this week on rising demand and supply constraints.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 0.6 percent at 50,308.89 (break)Hong Kong – Hang Seng Index: UP 0.5 percent at 25,665.26Shanghai – Composite: DOWN 0.2 percent at 3,893.86Dollar/yen: DOWN at 155.63 yen from 155.92 yen on WednesdayEuro/dollar: UP at $1.1703 from $1.1693Pound/dollar: UP at $1.3386 from $1.3384Euro/pound: UP at 87.43 pence from 87.36 penceWest Texas Intermediate: UP 0.7 percent at $58.85 per barrelBrent North Sea Crude: UP 0.6 percent at $62.55 per barrel

Wall Street stocks rose and the dollar retreated Wednesday after the Federal Reserve cut interest rates again as it seeks to shore up a vulnerable US labor market.The rate cut was expected, but stocks had been under pressure in recent days in part due to speculation that the Fed would combine Wednesday’s interest rate cut with commentary suggesting a pause to further easing in light of still-elevated inflation.But market watchers read Fed Chair Jerome Powell’s emphasis on the job market during a press conference as a signal that the Fed could cut interest rates again in 2026. Powell’s “press conference today was less hawkish than a lot of investors had anticipated,” said CFRA Research’s Sam Stovall. “And I think that that will go a long way to propelling stocks through the end of the year and allowing us to end on a positive note.””Powell did sound very supportive of cutting rates more if need be,” Stovall said.Stocks rose throughout the news conference, with the broad-based S&P 500 finishing up 0.7 percent. The dollar retreated against the euro and other major currencies.Powell described the current countervailing pressures on the central bank as an unusual challenge, with the Fed’s dual mandates on inflation and the job market pointing towards opposite policies.The US central bank’s third straight interest rate cut comes as inflation remains well above the Fed two-percent target. Recent US labor data has also shown some weakening, although the central bank has been forced to do without key economic reports due to the government shutdown.”We’re going to need to have some years where real compensation is higher” than inflation “for people to start feeling good about affordability,” Powell said.Wednesday’s cut by a quarter percentage point brings rates to a range between 3.50 percent and 3.75 percent, the lowest in around three years, a move aligned with market expectations.Three Fed officials dissented.Chicago Fed president Austan Goolsbee and Kansas City Fed president Jeffrey Schmid instead sought to keep rates unchanged. Fed Governor Stephen Miran backed a bigger, half-percentage-point cut.Earlier, London closed 0.1 percent in the green but Frankfurt and Paris were just off, while Asia saw a lackluster session.After November’s tech-led swoon, stock markets have enjoyed a healthy run in recent weeks as weak jobs figures reinforced expectations for another step lower in borrowing costs.But that has cooled heading into the Fed gathering after the release of US inflation data that was slightly higher than expected.The price of silver hit a record high at $61.9507 an ounce owing to high demand for the metal used by industry as well as for making jewelry.It topped $60 for the first time Tuesday, also thanks to supply constraints.- Key figures at around 2115 GMT -New York – Dow: UP 1.1 percent at 48,057.75 (close)New York – S&P 500: UP 0.7 percent at 6,886.68 (close)New York – Nasdaq Composite: UP 0.2 percent at 23,654.16 (close)London – FTSE 100: UP 0.1 percent at 9,655.02 (close)Paris – CAC 40: DOWN 0.4 percent at 8,022.69 (close)Frankfurt – DAX: DOWN 0.1 percent at 24,130.14 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 50,602.80 (close)Hong Kong – Hang Seng Index: UP 0.4 percent at 25,540.78 (close)Shanghai – Composite: DOWN 0.2 percent at 3,900.50 (close)Dollar/yen: DOWN at 155.92 yen from 156.88 yen on TuesdayEuro/dollar: UP at $1.1693 from $1.1627Pound/dollar: UP at $1.3384 from $1.3297Euro/pound: DOWN at 87.36 pence from 87.43 penceBrent North Sea Crude: UP 0.4 percent at $62.21 per barrelWest Texas Intermediate: UP 0.4 percent at $58.46 per barrel

Global stock markets marked time and the dollar steadied Wednesday with investors’ eyes on a highly anticipated Federal Reserve policy announcement later in the day.On Wall Street, the tech-heavy Nasdaq was off 0.2 percent two hours into the session. The Dow rose 0.5 percent but the S&P 500 index was flat.Europe was little changed as London closed 0.1 percent in the green but Frankfurt and Paris were just off, while Asia saw a lacklustre session.With US central bankers expected to cut interest rates for the third straight session on Wednesday, the main focus is on their post-meeting statement, Fed boss Jerome Powell’s news conference and the “dot plot” forecast for 2026 policy.”While there is a 90-percent chance of a rate cut at this meeting, the outlook is less clear,” said Kathleen Brooks, research director at traders XTB.”In the lead up to this meeting, bond traders are scaling back their expectations for future rate cuts, with only two further reductions expected throughout 2026,” she added.Traders were generally expecting a “hawkish” 25-basis-point trim.After November’s tech-led swoon, stock markets have enjoyed a healthy run in recent weeks as weak jobs figures reinforced expectations for another step lower in borrowing costs.But that has cooled heading into the Fed gathering following the release of US inflation data that was slightly higher than expected.US data on Tuesday showing an uptick in job openings — against estimates for a drop — further tempered expectations for a string of cuts next year.Still, there is some hope that the Fed will turn more dovish next year, with US President Donald Trump’s top economic aide Kevin Hassett — the frontrunner to succeed Powell in May — saying he sees plenty of room to substantially lower rates.After a weak showing Tuesday in New York, where the S&P 500 and Dow dropped, Asia fared no better Wednesday with Tokyo, Sydney, Singapore, Seoul, Mumbai, Wellington, Jakarta and Manila all down, though Hong Kong and Taipei edged up.The price of silver hit a record high at $61.6145 an ounce owing to high demand for the metal used by industry as well as for making jewellery.It topped $60 for the first time Tuesday also thanks to supply constraints.Investors are also keenly awaiting earnings from software giant Oracle and chipmaker Broadcom, which will be used to judge the outlook for the tech sector in the wake of huge investments in artificial intelligence.Markets have been pumped higher for the past two years by the surge into all things AI, though there has been some concern of late that the hundreds of billions splashed out might not see returns as early as hoped.- Key figures at around 1650 GMT -New York – Dow: UP 0.5 percent at 47,790.81 pointsNew York – S&P 500: UP 0.1 percent at 6,845.34New York – Nasdaq Composite: DOWN 0.2 percent at 23,519.10London – FTSE 100: UP 0.1 percent at 9,655.02 (close)Paris – CAC 40: DOWN 0.4 percent at 8,022.69 (close)Frankfurt – DAX: DOWN 0.1 percent at 24,130.14 (close)Tokyo – Nikkei 225: DOWN 0.1 percent at 50,602.80 (close)Hong Kong – Hang Seng Index: UP 0.4 percent at 25,540.78 (close)Shanghai – Composite: DOWN 0.2 percent at 3,900.50 (close)Dollar/yen: DOWN at 156.52 yen from 156.90 yen on TuesdayEuro/dollar: UP at $1.1636 from $1.1630Pound/dollar: UP at $1.3317 from $1.3300Euro/pound: DOWN at 87.33 pence from 87.43 penceBrent North Sea Crude: DOWN 0.7 percent at $61.49 per barrelWest Texas Intermediate: DOWN 0.7 percent at $57.80 per barrel

Global stock markets dipped and the dollar steadied Wednesday as investors bided their time ahead of a highly anticipated Federal Reserve policy announcement later in the day.On Wall Street, the needle barely moved with the tech-heavy Nasdaq off just 0.1 percent shortly after the open. The Dow added a handful of points to rise 0.2 percent while the S&P index was flat a few minutes into the session. Some two hours from the European close, London managed a slight rise of 0.2 percent, while most European markets slipped, Frankfurt and Paris both off around 0.4 percent after a lacklustre session in Asia.With US central bankers expected to cut interest rates for the third straight session on Wednesday, the main focus is on their post-meeting statement, Fed boss Jerome Powell’s news conference and the “dot plot” forecast for 2026 policy.”While there is a 90-percent chance of a rate cut at this meeting, the outlook is less clear,” said Kathleen Brooks, research director at traders XTB. “In the lead up to this meeting, bond traders are scaling back their expectations for future rate cuts, with only two further reductions expected throughout 2026,” she added.Traders were generally expecting a ‘hawkish’ 25 basis points trim.After November’s tech-led swoon, stock markets have enjoyed a healthy run in recent weeks as weak jobs figures reinforced expectations for another step lower in borrowing costs.But that has cooled heading into the Fed gathering following the release of US inflation data that was slightly higher than expected.US data on Tuesday showing an uptick in job openings — against estimates for a drop — further tempered expectations for a string of cuts next year.Still, there is some hope that the Fed will turn more dovish next year with US President Donald Trump’s top economic aide Kevin Hassett — the frontrunner to succeed Powell in May — saying he sees plenty of room to substantially lower rates.After a weak showing Tuesday in New York, where the S&P 500 and Dow dropped, Asia fared no better Wednesday.Tokyo, Sydney, Singapore, Seoul, Mumbai, Wellington, Jakarta and Manila all fell, though Hong Kong and Taipei edged up.Shanghai dropped even as data showed China’s consumer prices rose last month at their fastest pace in almost two years, following an extended period of deflationary pressure in the world’s second-largest economy.The price of silver hit a record high at $61.6145 an ounce owing to high demand for the metal used by industry as well as for making jewellery.It topped $60 for the first time Tuesday also thanks to supply constraints.Investors are also keenly awaiting earnings from software giant Oracle and chipmaker Broadcom, which will be used to judge the outlook for the tech sector in the wake of huge investments in artificial intelligence.Markets have been pumped higher for the past two years by the surge into all things AI, though there has been some concern of late that the hundreds of billions splashed out might not see returns as early as hoped.- Key figures at around 1450 GMT -New York – Dow: UP 0.2 percent at 47,661.70 pointsNew York – S&P 500: FLAT at 6,841.85New York – Nasdaq Composite: DOWN 0.1 percent at 23,551.74London – FTSE 100: UP 0.2 percent at 9,665.52Paris – CAC 40: DOWN 0.4 percent at 8,023.72Frankfurt – DAX: DOWN 0.4 percent at 24,061.57Tokyo – Nikkei 225: DOWN 0.1 percent at 50,602.80 (close) Hong Kong – Hang Seng Index: UP 0.4 percent at 25,540.78 (close)Shanghai – Composite: DOWN 0.2 percent at 3,900.50 (close)Dollar/yen: DOWN at 156.59 yen from 156.90 yen on TuesdayEuro/dollar: UP at $1.1637 from $1.1630 Pound/dollar: UP at $1.3327 from $1.3300Euro/pound: DOWN at 87.32 pence from 87.43 penceBrent North Sea Crude: DOWN 0.5 percent at $61.63 per barrelWest Texas Intermediate: DOWN 0.5 percent at $57.94 per barrel

Stock markets mostly fell and the dollar steadied Wednesday following a tepid day on Wall Street as investors bided their time ahead of a highly anticipated Federal Reserve policy announcement later in the day.London managed a slight rise, while most European markets slipped around midday after a lacklustre session in Asia.With US central bankers expected to cut interest rates for the third straight session on Wednesday, the main focus is on their post-meeting statement, Fed boss Jerome Powell’s news conference and the “dot plot” forecast for 2026 policy.”While there is a 90 percent chance of a rate cut at this meeting, the outlook is less clear,” said Kathleen Brooks, research director at traders XTB. “In the lead up to this meeting, bond traders are scaling back their expectations for future rate cuts, with only two further reductions expected throughout 2026,” she added.After November’s tech-led swoon, stock markets have enjoyed a healthy run in recent weeks as weak jobs figures reinforced expectations for another step lower in borrowing costs.But that has cooled heading into the Fed gathering following the release of US inflation data that was slightly higher than expected.US data on Tuesday showing an uptick in job openings — against estimates for a drop — further tempered expectations for a string of cuts next year.Still, there is some hope that the Fed will turn more dovish next year with US President Donald Trump’s top economic aide Kevin Hassett — the frontrunner to succeed Powell in May — saying he sees plenty of room to substantially lower rates.After a weak showing Tuesday in New York, where the S&P 500 and Dow dropped, Asia fared no better Wednesday.Tokyo, Sydney, Singapore, Seoul, Mumbai, Wellington, Jakarta and Manila all fell, though Hong Kong and Taipei edged up.Shanghai dropped even as data showed China’s consumer prices rose last month at their fastest pace in almost two years, following an extended period of deflationary pressure in the world’s second-largest economy.The price of silver hit a record high at $61.6145 an ounce owing to high demand for the metal used by industry as well as for making jewellery.It topped $60 for the first time Tuesday also thanks to supply constraints.Investors are also keenly awaiting earnings from software giant Oracle and chipmaker Broadcom, which will be used to judge the outlook for the tech sector in the wake of huge investments in artificial intelligence.Markets have been pumped higher for the past two years by the surge into all things AI, though there has been some concern of late that the hundreds of billions splashed out might not see returns as early as hoped.- Key figures at around 1100 GMT -London – FTSE 100: UP 0.1 percent at 9,649.85 pointsParis – CAC 40: DOWN 0.5 percent at 8,013.40Frankfurt – DAX: DOWN 0.5 percent at 24,035.46Tokyo – Nikkei 225: DOWN 0.1 percent at 50,602.80 (close) Hong Kong – Hang Seng Index: UP 0.4 percent at 25,540.78 (close)Shanghai – Composite: DOWN 0.2 percent at 3,900.50 (close)New York – Dow: DOWN 0.4 percent at 47,560.29 (close)Dollar/yen: DOWN at 156.77 yen from 156.90 yen on TuesdayEuro/dollar: UP at $1.1631 from $1.1630 Pound/dollar: UP at $1.3307 from $1.3300Euro/pound: DOWN at 87.40 pence from 87.43 penceBrent North Sea Crude: UP 0.2 percent at $62.08 per barrelWest Texas Intermediate: UP 0.3 percent at $58.44 per barrel

France is developing domestic production of electric vehicle batteries with an eye on industrial independence but Asian experts are proving key in launching operations.In the Verkor factory outside the northern city of Dunkirk, which will be inaugurated on Thursday, foreign specialists, notably from South Korea and Malaysia, are training the local staff.Verkor is the third battery gigafactory to open in northern France in a region that has become known as “Battery Valley”.At the AESC factory near the city of Douai, where production has been underway for several months, Chinese engineers and technicians supervise French recruits. “They are the ones who train us on the equipment, how to operate it, how to fix problems,” said Ericka Redjimi, 39.Redjimi arrived at AESC in May without any experience in the sector.”I sold clothes at open-air markets,” she said. Communication can prove complicated.”We use Google Translate often.” “I still need them, much less than at the beginning,” but “it’s reassuring that they are still here,” said Redjimi, who works in the section of the factory that makes battery cells.Once finished, autonomous robotic sleds transport the cells to another section of the factory where they are assembled into battery modules that are used to power Renault’s R4 and R5 models, as well as the Nissan Micra.- Skills transfer -By the end to the first quarter of 2026 the factory should be running at full speed, turning out batteries to equip 150,000 to 200,000 vehicles per year, said Ayumi Kurose, who heads up operations at AESC France.He said the first few months of production had gone pretty much as expected.”What’s always complicated is gaining mastery of the equipment” which often comes from Asia, and the training of staff, Kurose said.  Founded in Japan but now owned by China’s Envision, AESC has been manufacturing electric car batteries in Asia for 15 years.The group can rely on its in-house know-how to ensure “good practices from beginning” at its new factories elsewhere in the world, said Kurose.He said there are currently nearly 150 Chinese experts working at the Douai directing 800 local staff.These include experts in vision-based control of industrial machinery and cutting-edge soldering techniques.”The goal is really the transfer of skills,” said Kurose.The experts “come for between six months and two years, but they aren’t meant to stay,” he added.The Douai factory should be ready to operate on its own by the end of 2026, he estimated.One of the Chinese engineers also expressed confidence.”I have to say, my French colleagues, they are always working hard,” said He Xiaoming, 36.If they acquire the necessary knowledge and gain additional experience “they will go quite fast”, he added.- Chinese partner -The nearby ACC factory, the first battery gigafactory to open in France in 2024, is also scaling up production after a difficult start.”What we manufacture in a day now took us a month to do at the beginning of the year,” said ACC’s chief executive Yann Vincent.”We’re not yet where we want to be”, but in terms of the rate of defective cells and volumes “we’ve made significant improvement.”A joint venture of carmakers Stellantis and Mercedes-Benz plus energy firm TotalEnergies, ACC earlier this year struck a temporary partnership with a Chinese battery manufacturer.The company, the name of which ACC hasn’t disclosed, will manage one of its three production lines from A to Z until mid-2026.Vincent said the Chinese have learned an enormous amount in two decades of manufacturing electric vehicle batteries, while France began from zero five years ago.So “it’s better to rely on the people who know best” to speed up learning a “really delicate” manufacturing process.ACC, which currently employs 1,200 people at its Billy-Berclau factory, aims to manufacture batteries for 250,000 electric vehicles next year, against 10,000 to date.

South Korea and Japan reacted furiously on Wednesday after Chinese and Russian military aircraft conducted joint patrols around the two countries, with both Seoul and Tokyo scrambling jets.South Korea said it had lodged a protest with representatives of China and Russia, while Japan said it had conveyed its “serious concerns” over national security.According to Tokyo, two Russian Tu-95 nuclear-capable bombers on Tuesday flew from the Sea of Japan to rendezvous with two Chinese H-6 bombers in the East China Sea, then conducted a joint flight around the country.The incident comes as Japan is locked in a dispute with China over comments Prime Minister Sanae Takaichi made about Taiwan.The bombers’ joint flights were “clearly intended as a show of force against our nation”, defence minister Shinjiro Koizumi wrote on X Wednesday.Top government spokesman Minoru Kihara said that Tokyo had “conveyed to both China and Russia our serious concerns over our national security through diplomatic channels”.Seoul said Tuesday the Russian and Chinese warplanes entered its air defence zone and that a complaint had been lodged with the defence attaches of both countries in the South Korean capital.”Our military will continue to respond actively to the activities of neighbouring countries’ aircraft within the KADIZ in compliance with international law,” said Lee Kwang-suk, director general of the International Policy Bureau at Seoul’s defence ministry, referring to the Korea Air Defence Identification Zone.South Korea also said it deployed “fighter jets to take tactical measures in preparation for any contingencies” in response to the Chinese and Russian incursion into the KADIZ.The planes were spotted before they entered the air defence identification zone, defined as a broader area in which countries police aircraft for security reasons but which does not constitute their airspace.Japan’s defence ministry also scrambled fighter jets to intercept the warplanes.- ‘Routine exercise’ -Beijing later Tuesday confirmed it had organised drills with Russia’s military according to “annual cooperation plans”.Moscow also described it as a routine exercise, saying it lasted eight hours and that some foreign fighter jets followed the Russian and Chinese aircraft.Since 2019 China and Russia have regularly flown military aircraft into South Korea’s air defence zone without prior notice, citing joint exercises. In November last year Seoul scrambled jets as five Chinese and six Russian military planes flew through its air defence zone.Similar incidents occurred in June and December 2023, and in May and November 2022.Meanwhile Tokyo said Monday it had scrambled jets in response to repeated takeoff and landing exercises involving fighter jets and military helicopters from China’s Liaoning aircraft carrier as it cruised in international waters near Japan.  It also summoned Beijing’s ambassador after military aircraft from the Liaoning locked radar onto Japanese jets, the latest incident in the row ignited by Takaichi’s comments backing Taiwan.Takaichi suggested last month that Japan would intervene militarily in any Chinese attack on the self-ruled island, which Beijing claims as its own and has not ruled out seizing by force.

Most markets fell Wednesday following a tepid day on Wall Street as investors bided their time ahead of a highly anticipated Federal Reserve policy announcement later in the day.Earnings from tech giants Oracle and Broadcom this week are also in view amid lingering worries about an artificial intelligence-fuelled bubble that caused some panic on trading floors last month.With US central bankers expected to cut interest rates for the third straight session later Wednesday, the main focus is on their post-meeting statement, boss Jerome Powell’s news conference and the “dot plot” forecast for 2026 policy.After November’s tech-led swoon, markets have enjoyed a healthy run in recent weeks as weak jobs figures reinforced expectations for another step lower in borrowing costs.But that has cooled heading into the Fed gathering amid speculation it will announce a “hawkish cut” that plays down the chances of a fourth successive reduction.Data on Tuesday showing an uptick in job openings — against estimates for a drop — further tempered expectations for a string of cuts next year, with markets now pricing in two more over the next 12 months, compared with three previously seen.Pepperstone’s Chris Weston said the figures “catalysed a repricing of US forward Fed rate expectations”.After a weak day in New York, where the S&P 500 and Dow dropped, Asia fared no better.Tokyo, Sydney, Singapore, Seoul, Mumbai, Wellington, Jakarta and Manila all fell, though Hong Kong and Taipei edged up.Shanghai dropped even as data showed China’s consumer prices rose last month at their fastest pace in almost two years, following an extended period of deflationary pressure in the world’s second-largest economy.London, Paris and Frankfurt opened in the red.Still, there is some hope that the Fed will turn more dovish next year with President Donald Trump’s top economic aide Kevin Hassett — the frontrunner to succeed Powell in May — saying he sees plenty of room to substantially lower rates.”While he has indicated that he would respond to the data and that he would not bow to political pressure to decide whether to cut interest rates, if he becomes the next chair, it is clear that on the current backdrop he is comfortable with more easing” than many board members, wrote National Australia Bank’s Taylor Nugent.Aside from the Fed saga, investors are also keenly awaiting earnings from software giant Oracle and chipmaker Broadcom, which will be used to judge the outlook for the tech sector in the wake of huge investments in artificial intelligence.Markets have been pumped higher for the past two years by the surge into all things AI, though there has been some concern of late that the hundreds of billions splashed out might not see returns as early as hoped.”Oracle may not have a substantial weight in the S&P 500 or NAS100 to move the index on its own,” said Pepperstone’s Weston. “But what they detail on its capex intentions and future funding plans could resonate across the AI space.”- Key figures at around 0815 GMT -Tokyo – Nikkei 225: DOWN 0.1 percent at 50,602.80 (close) Hong Kong – Hang Seng Index: UP 0.4 percent at 25,540.78 (close)Shanghai – Composite: DOWN 0.2 percent at 3,900.50 (close)London – FTSE 100: DOWN 0.1 percent at 9,629.99 Dollar/yen: DOWN at 156.68 yen from 156.90 yen on TuesdayEuro/dollar: UP at $1.1643 from $1.1630 Pound/dollar: UP at $1.3322 from $1.3300Euro/pound: DOWN at 87.40 pence from 87.43 penceWest Texas Intermediate: UP 0.2 percent at $58.36 per barrelBrent North Sea Crude: UP 0.2 percent at $62.06 per barrelNew York – Dow: DOWN 0.4 percent at 47,560.29 (close)

China’s mammoth trade surplus with Europe as well as challenges faced by foreign firms in the country are incentivising Brussels to adopt more “offensive” policies, a business lobby warned Wednesday.The report by the European Union Chamber of Commerce in China underscores the turbulence in economic ties between the key trading partners, as they navigate heightened uncertainty sparked by Beijing-Washington tensions.Data this week showed that China’s global exports in the first 11 months of the year outpaced imports by more than $1 trillion, reaching the historic milestone even before December.A significant portion of that surplus was generated by shipments to the European Union, which last year ran a trade deficit with the country of more than $350 billion.China is “continuing to export ever greater quantities of goods to the EU — in part to compensate for weak domestic demand relative to supply growth”, wrote the EU Chamber of Commerce in China in a report Wednesday.Beijing is also “failing to address several long-standing concerns that European companies have about the country’s business environment”, it added.The trends mean that “China is pushing the EU to take a more offensive approach to its China policy than it currently does”, the report said.The warning comes less than a week after French President Emmanuel Macron said Europe would consider adopting strong measures against China — including tariffs — if the trade imbalance was not addressed.It also follows the Chamber’s publication of a survey earlier this month showing that one in three member companies were looking to shift sourcing out of China in response to tight export controls introduced this year by Beijing.The measures, which sent shockwaves across global manufacturing industries, include licence requirements for shipments of rare earth elements crucial to automobiles, defence equipment and other items.Beijing maintains its steps were necessary for national security, though they were widely viewed as retaliation in its trade war with the United States, now paused in a precarious truce.”The rare earths situation was a wake-up call for Europe,” said EU Chamber of Commerce in China president Jens Eskelund at a media event this week ahead of the report’s release.”You cannot assume that you will not inadvertently become collateral damage to someone else’s fight,” he added.The predicament is “scary” for companies and governments alike, said Eskelund.”It’s no longer just trade disputes; it’s been veering into security, and that is a different discussion.”

When Nepal’s government was toppled in September after deadly youth-led protests against economic stagnation and corruption, many in the impoverished country hoped for a period of meaningful political change.But experts warn that the upheaval — which killed 76 people and left thousands of buildings including parliament damaged — has pushed the nation backwards economically.Three months on from the September 8–9 protests, and with three months to go before elections on March 5, Nepal faces daunting challenges including rising unemployment and collapsing foreign investment.”My family depended entirely on my salary,” said Kamal Gautam, who lost his job as a kitchen worker at the Hyatt Regency when it was closed after rioters looted the hotel.”It’s been three months since my salary stopped, and I have no idea how to support my family,” 40-year-old Gautan, the sole breadwinner for his family of four, told AFP in their cramped one-room home in Kathmandu.Protests, initially triggered by anger over a brief government ban on social media, were spearheaded by protesters under the loose “Gen Z” umbrella.But anger at economic woes and a political elite accused of creaming off cash had primed the Himalayan nation of 30 million people for upheaval.After police cracked down on the protesters, the riots spread and on the second day more than 2,700 structures were torched, looted or damaged.- ‘Economic uncertainty’ -A preliminary report from the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) estimates losses exceeding $278 million, with nearly 15,000 people losing their jobs.Foreign direct investment commitments plunged 91 percent to just $14 million in the three months since mid-August, according to government data.Even before the unrest, the World Bank estimated that 82 percent of Nepal’s workforce was in informal employment, while one in five Nepalis aged 15–24 was jobless.In November, the bank revised its projections, warning that “reflecting the recent unrest and heightened political and economic uncertainty, real GDP growth is projected to slow to 2.1 percent” in 2025, from an earlier forecast of 5.1 percent.  It also raised its poverty estimate to 6.6 percent of the population this financial year, up from 6.2 percent. Some of Nepal’s largest companies — major contributors to state revenue — suffered heavy losses, including Bhat-Bhateni supermarkets, the Chaudhary Group conglomerate and the telecom provider Ncell.”Multinational companies are psychologically disturbed, even national entrepreneurs are in the position of wait and see,” economist Chandra Mani Adhikari told AFP.”We assume that, even now, only half of the country’s economy is running.”- ‘Loss is immense’ -Remittance inflows surged between mid-September and mid-October, crossing 200 billion Nepali rupees ($1.4 billion) in a single month for the first time. Remittances make up the equivalent of around a third of Nepal’s gross domestic product.Tourism — which contributes about 6.6 percent to GDP — was also hit hard. Visitor numbers plunged 18 percent year-on-year in September.In Pokhara, one of Nepal’s key tourist hubs, Hotel Sarowar was set ablaze.”The loss is immense,” chairman Bharat Raj Pahari told AFP. “It has directly affected 750 family members.”Mani Raj Lamichhane, the head of the Nepal Tourism Board in Pokhara for Gandaki province, estimated the industry lost more than $20 million. “Many tourists cancelled their travel to Pokhara, and hotel occupancy dropped by over 90 percent throughout September,” he said.While visitor numbers rebounded in November, the effects of the unrest continue to ripple, and workers like Kamal Gautam are still adrift.”I can neither go back to the village, nor can I live in this expensive city,” he said.