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Retail sales in China grew last month at the slowest pace in over a year, official data showed Friday, highlighting the battle facing authorities’ efforts to counteract persistent consumer malaise.The world’s second-largest economy has been confronted with sluggish domestic spending since the end of the Covid pandemic, with a prolonged debt crisis in the property sector weighing on sentiment.Many economists argue that China must shift to a growth model driven more by consumption than infrastructure investment and exports, long the key sources of activity.Leaders are targeting overall growth in 2025 of five percent, a goal experts say remains within reach despite an apparent slowdown in the latter half of the year.”External instability and uncertainty factors remain numerous, domestic structural adjustment pressures are significant, and the stable operation of the economy faces many challenges,” Fu Linghui, chief economist at the National Bureau of Statistics (NBS), told a news conference.  Retail sales rose 2.9 percent on-year last month, data from the NBS showed, slightly lower than the three percent increase recorded in September.The figure represented the slowest increase since August of last year.It also marked the fifth straight month of slowing growth since the peak of 6.4 percent reached in May.The spending slump last month came as Beijing and Washington worked to ease a damaging trade war, with presidents Donald Trump and Xi Jinping agreeing in October to a one-year truce.China’s exports have largely remained resilient this year despite Washington’s tariffs, with a decline in shipments to the United States offset by increases elsewhere, particularly Southeast Asia.But spurring activity in the domestic economy has been more challenging.At a Communist Party gathering last month that was focused on economic planning, leaders said the country must “vigorously boost consumption”.Moody’s Ratings warned in a report this week that China’s “domestic demand may be slow to revive”.After last month’s meeting, priorities are “accelerating innovation in strategic technologies and reinforcing domestic demand through structural improvements in income distribution and social safety nets”, the report said.- Factory slowdown -NBS data also showed factory activity in October fell short of expectations.Industrial production rose 4.9 percent year-on-year, lower than a Bloomberg forecast of 5.5 percent and the slowest increase since August last year.”A key drag came from weaker external demand — export values and industrial sales for export both weakened significantly,” Zichun Huang of Capital Economics said in a note about Friday’s data.”We expect the economy to remain weak over the coming quarter,” she wrote, adding that Beijing’s recent trade truce with Washington “is unlikely to provide much relief”.China’s real estate sector has been mired in a debt crisis since 2020, having enjoyed a decades-long construction boom powered by rapid urbanisation and rising living standards.Friday data showed home values — a key store of wealth for Chinese households — continued to decline.Prices for new residential properties fell year-on-year in October in 61 out of 70 major cities surveyed by the NBS.”The housing sector still clouds the overall outlook,” wrote Sheana Yue, Senior Economist at Oxford Economics.There is “limited policymaker appetite for new housing stimulus despite fading property momentum” she said, adding that “a nationwide turnaround remains distant”.In another worrying sign for policymakers, fixed-asset investment in the January-October period was down 1.7 percent year-on-year.The indicator slipped into negative territory in September, falling 0.5 percent year-on-year.

Women wearing long wigs and ornate traditional dresses milled around a pebbled courtyard, stopping to snap photos under a pavilion, as the melodious strumming of the Chinese zither played in the background.These customers have paid to “time travel” back to ancient China for a few hours in an experience offered by a newly opened themed restaurant in central Beijing, which provides clothing services and an eight-course meal. While the world’s second-largest economy has been beset by sluggish domestic demand, many young people are still spending on experiences and goods that gives them satisfaction — a trend recently dubbed in China as “emotional consumption”.Consumers born after the 1990s often buy things to “please themselves”, fueling emotionally charged purchases in the country, the state-backed China Daily reported in September.Such purchases include Labubu dolls, which have flown off the shelves in China.”New forms of consumption… (and) new trends” such as the toothy-grinned dolls could help boost China’s economy, commerce minister Wang Wentao said in July.Before dining, customers picked out their garments from a room lined with traditional “hanfu”, or Han clothing, headpieces adorned with faux jewels, and accessories.Businessman Carey Zhuang told AFP that he paid around 1,000 yuan ($140) to dress up as one of the main characters from the famous Chinese classic novel “Dream of the Red Chamber”, from which the restaurant has drawn inspiration.Wearing a red silk top emblazoned with dragons, Zhuang said he is happy to spend money on a new experience. “It’s not about blindly being frugal, it’s more about living in the moment,” 27-year-old Zhuang told AFP. – Willing to spend -On the second floor, women sat in front of vanity desks as make-up artists powdered their faces and daintily applied blush to the apples of their cheeks.After being made up, 22-year-old Wu Ke, dressed in a flowy, lilac “hanfu” with a matching cape, said that she was drawn to this restaurant because of her interest in ancient Chinese culture and clothing from the Song and Qing dynasties.The broadcast host said that while people have tightened their purse strings in China, they will still be willing to spend on certain things and experiences. “If, in our daily life, we’re a bit thrifty with things like food — for example, eating more simply — and we choose public transportation when we go out, then the money we save will definitely find somewhere to go,” Wu told AFP.Outside, Huang Jing smiled as she watched her nine-year-old daughter pose for photos with a parasol on a small wooden bridge in the middle of a misty garden.Huang had paid at least 900 yuan ($126) for her daughter to dress up in traditional clothing for the dinner and get her pictures professionally taken.The restaurant was “immersive” unlike regular ones, and had a cultural element to it, Huang, a teacher, told AFP. – Culture charm -In recent years, Chinese people — mostly women — have got increasingly interested in dressing up in “hanfu” especially while visiting key tourist sites in the country.The hashtag “hanfu” has been viewed over eleven billion times on Instagram-like Xiaohongshu, and is filled with posts of women in elaborate costumes and hairdos. Huang said that “the charm of Chinese culture is now loved by the younger generation”.”I hope that my daughter’s generation can continue to inherit, carry forward, and spread it so that more people can know about it,” she added. The revival of the “hanfu” is “a concentrated manifestation” of the “emotional economy”, said Yang Jianfei from the Communication University of China.Through immersive experiences involving the traditional clothing, young people are also engaging in a form of personal identity exploration, which connects them to “the roots of our national culture”, Yang told AFP.Diners were ushered into a grand, circular room, served by waiters dressed in “hanfu”, and treated to an eight-act performance involving twirling dancers and emotive dialogue from actors.   Broadcast host Wu told AFP that as long as the reason “felt right” and “moved” her, she would be willing to fork out money. “I won’t try to save in this regard,” she said, adding that she doesn’t view it as “emotional spending”.”I prefer to understand it as something that’s just about making ourselves happy.”

A pair of swivelling, human-like robotic arms, built for physical artificial intelligence research, mirror the motions of an operator in a VR headset twirling his hands like a magician.With enough practice, arms like these can complete everyday tasks alone, says Tokyo company Enactic, which is developing humanoid robots to wash dishes and do laundry in short-staffed Japanese care homes.Welcome to the future of AI as it starts to infiltrate the material world in the form of smart robots, self-driving cars and other autonomous machines.”The next wave of AI is physical AI,” Jensen Huang, head of US chip giant Nvidia, said last year.That’s “AI that understands the laws of physics, AI that can work among us” and understands “how to perceive the world”, Huang added.Tech firms are pouring massive sums into physical AI, and Morgan Stanley predicts the world could have more than a billion humanoid robots by 2050.The buzz is only heightened by videos showing advanced androids, often Chinese-made, dancing to Taylor Swift or pulling heavy objects with ease.Beyond the promise of sci-fi robot butlers, the race has sparked concern over job losses, privacy and how long these innovations will take to actually be useful.Hiro Yamamoto is the 24-year-old CEO of Enactic, whose OpenArm physical AI training devices are used by Nvidia and at top universities such as Stanford.He plans to begin deploying new robots, currently under development, from next summer to “live alongside people in environments that are very chaotic, and where conditions are always changing” like care homes.”So it has to be safe,” with a soft exterior that won’t injure anyone, Yamamoto said.- ‘Any human role’ -In the Chinese city of Guangzhou, a female figure with a glowing oval-shaped visor for a face, clad in white woven fabric like a fencing athlete, walked slowly across a stage last week to cheers and whispers.It was the latest humanoid robot to be unveiled by Chinese electric vehicle maker XPeng, which is also pushing into physical AI.Nimble machines made by US companies, such as Boston Dynamics’ dog-like robots, have grabbed headlines over the years.But government support and strong domestic supply chains are helping Chinese rivals, also including Unitree Robotics and EngineAI, race ahead.”I haven’t given much thought to how many robots we will sell annually in 10 years’ time, but I think it would be more than cars,” XPeng CEO He Xiaopeng told reporters.XPeng’s robots walk and even dance autonomously — but how well they handle objects, a more complicated feat, has not been widely demonstrated.Their dexterous fingers and flexible skin are unlikely to replace workers on China’s factory floors soon, He said.The cost of one robot hand, which needs to be replaced regularly for heavy-duty work, could pay a Chinese worker’s salary for years.But with enough data and training, AI humanoid robots could one day perform “almost any human role”, from nanny to home chef or gardener, XPeng co-president Brian Gu told AFP.- On-the-job training -Text-based AI tools like ChatGPT are trained on huge volumes of words, but physical AI models must also grapple with vision and the spatial relationship between objects.For now, remotely operating AI robots to teach them how to do something like picking up a cup “is by far the most reliable way to collect data”, Yamamoto said.Just 30 to 50 demonstrations of each task are needed to fine-tune “vision-language-action” AI models, he added.Enactic has approached several dozen care facilities in Japan to propose that its teleoperated robots take over menial tasks, so qualified care workers have more time to look after elderly residents.This on-the-job experience will train physical AI models so the robots can act autonomously in future, Yamamoto said.US-Norwegian startup 1X is taking a similar approach for its humanoid home helper NEO, which it will deliver to American homes from next year.NEO costs $20,000 to buy, but so far its performance is shaky, with one video in US media showing the robot struggling to close a dishwasher door, even when teleoperated.- Physical limits -In another embarrassing moment, a Russian humanoid robot, said to be the country’s first, staggered then fell flat on its face as it made its debut on stage earlier this week.There is currently a “big gap” between robots’ AI systems and their physical abilities, which lag behind, said Sara Adela Abad Guaman, assistant professor in robotics at University College London.”Nature has shown us that in order to adapt to the environment, you need to have the right body,” Abad told AFP, giving the example of a mountain goat that stumbles on ice.Nevertheless, big deals are being struck, even as booming investment in artificial intelligence feeds fears of a stock market bubble.Japan’s SoftBank recently called physical AI its “next frontier” as it said it was buying industrial robot maker ABB Robotics for $5.4 billion.Automation raises questions about the future of human labour, but Abad is not too worried.At the end of the day, “our sense of touch is incomparable,” she said.

Asian markets sank Friday, tracking a selloff on Wall Street as worries over next month’s Federal Reserve interest rate decision and persistent speculation about a tech bubble dampened sentiment.With the US shutdown saga now out the way, focus returned to the central bank’s policy meeting next month, when officials will decide whether or not to lower borrowing costs again.For much of the year, equities have been boosted by optimism that rates would come down, despite persistent inflation, and the Fed has delivered at its past two gatherings.But comments from bank boss Jerome Powell last month that a December repeat was not “a foregone conclusion” sowed the seeds of doubt, while several other decision-makers have made similar noises.The latest came this week, with three regional presidents voicing concerns about moving while inflation remained stubbornly high.St. Louis head Alberto Musalem urged “caution”, adding that “there’s limited room for further easing without monetary policy becoming overly accommodative”.His Minneapolis counterpart Neel Kashkari, who called for a pause in October, pointed to “underlying resilience in economic activity, more than I had expected”.And Cleveland’s Beth Hammack told the Pittsburgh Economic Club: “On balance, I think we need to remain somewhat restrictive to continue putting pressure to bring inflation down toward our target.”She called current rates “barely restrictive, if at all” and that “we need to keep rates around these levels”. The comments come as investors await the release of economic data that had been held up by the record shutdown, with jobs and inflation the main focus, even though some are expected to be incomplete.”As we await this schedule, we’ve seen some recalibration of expectations around whether the Fed cuts by 25 basis points on 10 December,” wrote Pepperstone’s Chris Weston. He added that markets saw a 52 percent chance of a cut, down from 60 percent the day before.The dimmer outlook for rates compounded worries that the tech sector may be overpriced after an AI-fuelled surge this year that has sent markets to records.There is growing talk that the mind-boggling amounts of cash invested in artificial intelligence may take some time to be realised as profit.Chip titan “Nvidia’s earnings (are) the key bottom-up focal point next week — potentially prompting traders to de-risk, lock in performance and sit tight until the tape turns and risk appetite returns into year-end”, said Weston.All three main indexes on Wall Street ended well in the red, with the tech-rich Nasdaq down more than two percent, while the Dow and S&P 500 were each off 1.7 percent.And Asia followed the lead, having enjoyed a broadly positive week.Tokyo, Hong Kong, Sydney and Taipei all shed at least one percent and Seoul — which has hit multiple records of late — shed more than two percent.There were also losses in Shanghai, Singapore and Wellington.Oil rallied after the International Energy Agency flagged risks to Russian output caused by hefty sanctions imposed by Washington last month, including the country’s top two producers.The IEA said the decision could have “the most far-reaching impact yet on global oil markets”.Friday’s surge of more than two percent came days after the commodity tumbled following OPEC’s monthly crude market report, which forecast an oversupply in the third quarter.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 1.7 percent at 50,434.54 (break)Hong Kong – Hang Seng Index: DOWN 1.0 percent at 26,804.22Shanghai – Composite: DOWN 0.2 percent at 4,022.82Dollar/yen: UP at 154.55 yen from 154.53 yen on ThursdayEuro/dollar: DOWN at $1.1632 from $1.1634 Pound/dollar: DOWN at $1.3142 from $1.3189Euro/pound: UP at 88.50 pence from 88.21 penceWest Texas Intermediate: UP 2.7 percent at $60.27 per barrelBrent North Sea Crude: UP 2.4 percent at $64.49 per barrel

Global stocks slid back sharply on Thursday, dashing hopes that US President Donald Trump’s signing of a spending bill to end a record government shutdown might enliven trading floors.Investors had sought a boost after lawmakers in Washington voted to end the 43-day stoppage that closed key services and suspended the release of data crucial to gauging the state of the world’s top economy.But the main exchanges in Europe and on Wall Street were down across the board, following modest gains in Asia.”While it’s unclear whether the shutdown was ever a real drag on equities — given that stocks largely rallied through it — the question now is whether the market’s recent exuberance has run its course,” said Fawad Razaqzada, market analyst at StoneX.London was pegged back after data showed the UK economy slowed in the third quarter, dealing another blow to the Labour government ahead of its annual budget this month.- ‘Overstretched’ tech -Investors are bracing for long-awaited economic reports as well that have been held up by the closure of vital services in the United States.This comes particularly as the Federal Reserve assesses whether to cut interest rates further next month.However, US National Economic Council director Kevin Hassett said figures on jobs for October would likely be incomplete as statistics agencies had been unable to collect the necessary data.Concerns also mounted that this year’s AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.”Big Tech valuations and big spending will remain front of mind for investors until Microsoft, for example, can say that AI-boosted software sales have exploded — and that’s not yet the case,” said Ipek Ozkardeskaya, senior analyst at Swissquote bank.Razaqzada said technology shares look “increasingly overvalued and overstretched” but he added it was “far too early to call a top in this cycle” as investors were still enthusiastic about artificial intelligence.Oil prices advanced after plunging around four percent on Wednesday following OPEC’s monthly crude market report, which forecast an oversupply in the third quarter.Easing tensions in the Middle East and increased output by OPEC and other key producers have put the commodity’s price under pressure.- Key figures at around 2135 GMT -New York – Dow: DOWN 1.7 percent at 47,457.22 points (close)New York – S&P 500: DOWN 1.7 percent at 6,737.49 (close)New York – Nasdaq Composite: DOWN 2.3 percent at 22,870.36 (close)London – FTSE 100: DOWN 1.0 percent at 9,807.68 (close)Paris – CAC 40: DOWN 0.1 percent at 8,232.49 (close)Frankfurt – DAX: DOWN 1.4 percent at 24,042.91 (close)Tokyo – Nikkei 225: UP 0.4 percent at 51,281.83 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 27,073.03 (close)Shanghai – Composite: UP 0.7 percent at 4,029.50 (close)Dollar/yen: DOWN at 154.53 yen from 154.80 yen on WednesdayEuro/dollar: UP at $1.1634 from $1.1587 Pound/dollar: UP at $1.3189 from $1.3129Euro/pound: DOWN at 88.21 pence from 88.25 penceBrent North Sea Crude: UP 0.5 percent at $63.01 per barrelWest Texas Intermediate: UP 0.3 percent at $58.69 per barrel

Global stocks slid back sharply on Thursday, dashing hopes that President Donald Trump’s signing of a spending bill to end a record US government shutdown might enliven trading floors.Investors had sought a fillip after lawmakers in Washington voted to end the 43-day stoppage that closed key services and suspended the release of data crucial to gauging the state of the world’s top economy.But the main exchanges in Europe and on Wall Street were down across the board, following modest gains in Asia earlier. “While it’s unclear whether the shutdown was ever a real drag on equities -– given that stocks largely rallied through it -– the question now is whether the market’s recent exuberance has run its course,” said Fawad Razaqzada, market analyst at StoneX.London was pegged back after data showed the UK economy slowed in the third quarter, dealing another blow to the Labour government ahead of its annual budget this month.- ‘Overstretched’ tech -Investors are bracing for long-awaited reports that have been held up by the closure of vital services in the US — particularly as the Federal Reserve assesses whether to cut rates next month, as is widely expected.However, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies had been unable to collect the necessary data.Concerns also mounted that this year’s AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.”Big Tech valuations and big spending will remain front of mind for investors until Microsoft, for example, can say that AI-boosted software sales have exploded — and that’s not yet the case,” said Ipek Ozkardeskaya, Senior Analyst at Swissquote bank.Razaqzada said technology shares look “increasingly overvalued and overstretched” but he added it was “far too early to call a top in this cycle” as investors were still enthusiastic about AI.Oil prices advanced after plunging around four percent on Wednesday following OPEC’s monthly crude market report, which forecast an oversupply in the third quarter.Easing tensions in the Middle East and increased output by OPEC and other key producers have put the commodity’s price under pressure.- Key figures at around 1645 GMT -New York – Dow: DOWN 0.8 percent at 47,793.10 pointsNew York – S&P 500: DOWN 1.2 percent at 6,764.82New York – Nasdaq Composite: DOWN 1.9 percent at 22,957.73London – FTSE 100: DOWN 1.0 percent at 9,807.68 (close)Paris – CAC 40: DOWN 0.1 percent at 8,232.49 (close)Frankfurt – DAX: DOWN 1.4 percent at 24,042.91 (close)Tokyo – Nikkei 225: UP 0.4 percent at 51,281.83 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 27,073.03 (close)Shanghai – Composite: UP 0.7 percent at 4,029.50 (close)Dollar/yen: DOWN at 154.28 yen from 154.80 yen on WednesdayEuro/dollar: UP at $1.1647 from $1.1587 Pound/dollar: UP at $1.3203 from $1.3129Euro/pound: DOWN at 88.21 pence from 88.25 penceBrent North Sea Crude: UP 0.8 percent at $63.22 per barrelWest Texas Intermediate: UP 0.8 percent at $58.95 per barrel

Mexico’s car assembly industry, one of the biggest in the world, fears US President Donald Trump’s tariff war will impede access to an increasingly indispensable component: digital dashboard touchscreens for which parts are sourced mainly in China.As Washington has engaged Beijing in a commercial tug-of-war, Mexico has come under pressure to act in step with its wealthier northern neighbor, and its Congress is considering hiking tariffs on Chinese imports.President Claudia Sheinbaum insists the measure is meant to boost domestic manufacturing.One problem: Mexico does not produce most of the electronic parts used in car assembly — particularly for the dashboard screens that provide drivers with real-time navigation and music at their fingertips. China does.And even if alternative sources could be found, it would take time while prices go up in the short term, undermining a mainstay of the country’s export economy, industry players told AFP.One company that has expressed concern is Germany headquartered Aumovio, which assembles dashboard displays in Guadalajara in Mexico’s west for car companies including Ford, and General Motors and Stellantis.”We have had talks with the Secretary of Economy as a group, not just Aumovio but the entire automotive industry, and we…explained to them the dependence we have” on Chinese parts, Aumovio purchasing director Carlos Gomez told AFP.He said building an alternative supply chain would require a significant investment in machinery and skills training and would take years.- ‘An opportunity’ -Amapola Grijalva of the Mexico-China Chamber of Commerce told AFP the government risked harming the car industry, which has thrived under the USMCA free-trade deal between Mexico, the United States and Canada.”There are components such as electric batteries and electronic components that we believe are very difficult to obtain from other places,” she said.”Nowadays, especially…electronics, photovoltaic generation, and batteries for all kinds of applications, including motorcycles and motor vehicles, come from China because they are truly very efficient.”The Trump administration has said Chinese producers are abusing the USMCA to send goods northward over the Mexican border tariff-free.Many interpreted Sheinbaum’s proposal of a tariff hike on China and other countries with which Mexico has no free-trade agreements as a capitulation to her powerful northern counterpart.According to Luis de la Calle, a Mexican economist who was involved in negotiating the NAFTA trade deal that preceded the USMCA, Sheinbaum’s tariff increases were at least partly driven by a desire to protect the domestic industry. Mexico’s trade deficit with China rose to a record of nearly $120 billion last year.”Not all the increases made were for reasons related to the United States,” de la Calle told AFP.One company that could benefit, for example, is Kold Roll, a manufacturer of steel bars used in cars and other products.”We see it as an opportunity,” said general manager Eric Gonzalez.Mexico replaced China in 2023 as the largest trading partner of the United States, which bought more than 80 percent of its exports.Mexico sends nearly 3 million automobiles to the United States every year, including cars and trucks assembled on its soil by US companies.

Stock markets were sluggish on Thursday after President Donald Trump signed a spending bill to end a record-long US government shutdown.In early trading on Wall Street, the tech heavy Nasdaq lost more than one percent with chip giant Nvidia notably shedding 2.8 percent while the Dow and the S&P 500 were also in the red by around half of one percent.London and Frankfurt also lost close on one percent as Europe crawled towards the European close with Paris a rare beam of light, adding 0.4 percent two hours from the closing bell.”While it’s unclear whether the (US) shutdown was ever a real drag on equities -– given that stocks largely rallied through it -– the question now is whether the market’s recent exuberance has run its course,” said Fawad Razaqzada, market analyst at StoneX.Wall Street stocks had closed mostly higher Wednesday, the Dow climbing to a fresh record amid speculation that traders are shifting from tech into industrials.London fell after data showed the UK economy slowed in the third quarter, dealing another blow to the Labour government ahead of its annual budget this month.Shares in luxury fashion label Burberry jumped around five percent on London’s top-tier FTSE 100 index before slipping back after the British group narrowed first half losses thanks to sizeable cost-cutting.In Asia, Tokyo, Hong Kong, Shanghai, Seoul, Singapore, Mumbai, Manila, Bangkok and Jakarta all rose. Sydney, Wellington and Taipei fell.- AI sector concerns -Lawmakers in Washington voted on Wednesday to end the 43-day stoppage that closed key services and suspended the release of data crucial to gauging the state of the world’s top economy.Investors are bracing for long-awaited reports that have been held up by the closure, particularly as the Federal Reserve assesses whether to cut rates next months, as is expected.However, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies were unable to collect the necessary data.Concerns also mount that this year’s AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.Attention was earlier on Tokyo after Japanese Finance Minister Satsuki Katayama said the government was keeping an eye on currency markets as the yen weakened afresh.The yen came under pressure following dovish comments from Japan’s central bank that tempered bets on another interest rate hike and as the United States moved towards reopening its government.Oil prices advanced after plunging around four percent on Wednesday as OPEC’s monthly crude market report forecast an oversupply in the third quarter.That came just a month after it had predicted a deficit in the period.The commodity has come under pressure from easing tensions in the Middle East and increased output by OPEC and other key producers. The International Energy Agency has estimated a record surplus in 2026.- Key figures at around 1445 GMT -New York – Dow: DOWN 0.3 percent at 48,119.57 pointsNew York – S&P 500: DOWN 0.7 percent at 6,805.78New York – Nasdaq Composite: DOWN 1.1 percent at 23,145.50London – FTSE 100: DOWN 0.8 percent at 9,835.51Paris – CAC 40: UP 0.4 percent at 8,274.47Frankfurt – DAX: DOWN 0.7 percent at 24,215.79Tokyo – Nikkei 225: UP 0.4 percent at 51,281.83 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 27,073.03 (close)Shanghai – Composite: UP 0.7 percent at 4,029.50 (close)New York – Dow: UP 0.7 percent at 48,254.82 (close)Dollar/yen: DOWN at 154.66 yen from 154.80 yen on WednesdayEuro/dollar: UP at $1.1620 from $1.1587 Pound/dollar: UP at $1.3170 from $1.3129Euro/pound: DOWN at 88.23 pence from 88.25 penceBrent North Sea Crude: UP 1.0 percent at $63.34 per barrelWest Texas Intermediate: UP 1.0 percent at $59.08 per barrel

Stock markets wavered on Thursday after President Donald Trump signed a spending bill to end a record-long US government shutdown.Paris rose and Frankfurt fell in European midday deals.London dropped after data showed the UK economy slowed in the third quarter, dealing another blow to the Labour government ahead of its annual budget this month.Shares in luxury fashion label Burberry jumped around five percent on London’s top-tier FTSE 100 index after the British group narrowed first half losses thanks to sizeable cost-cutting.In Asia, Tokyo, Hong Kong, Shanghai, Seoul, Singapore, Mumbai, Manila, Bangkok and Jakarta all rose. Sydney, Wellington and Taipei fell.”The ending of the US government shutdown has sparked risk-on sentiment with US futures pointing to a higher open,” said Victoria Scholar, head of investment at Interactive Investor.Lawmakers in Washington voted on Wednesday to end the 43-day stoppage that closed key services and suspended the release of data crucial to gauging the state of the world’s top economy.Investors are bracing for long-awaited reports that have been held up by the closure, particularly as the Federal Reserve assesses whether to cut rates next months, as is expected.However, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies were unable to collect the necessary data.Concerns also mount that this year’s AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.Wall Street stocks closed mostly higher Wednesday, with the Dow climbing to a fresh record amid speculation that traders are shifting from tech into industrials.Attention was also on Tokyo after Japanese Finance Minister Satsuki Katayama said on Wednesday the government was keeping an eye on currency markets as the yen weakened.The yen came under pressure following dovish comments from Japan’s central bank that tempered bets on another interest rate hike and as the United States moved towards reopening its government.Oil prices advanced after plunging around four percent on Wednesday as OPEC’s monthly crude market report forecast an oversupply in the third quarter.That came just a month after it had predicted a deficit in the period.The commodity has come under pressure amid easing tensions in the Middle East and increasing output by OPEC and other key producers. The International Energy Agency has estimated a record surplus in 2026.- Key figures at around 1100 GMT -London – FTSE 100: DOWN 0.5 percent at 9,866.25 pointsParis – CAC 40: UP 0.6 percent at 8,292.80Frankfurt – DAX: DOWN 0.5 percent at 24,264.33Tokyo – Nikkei 225: UP 0.4 percent at 51,281.83 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 27,073.03 (close)Shanghai – Composite: UP 0.7 percent at 4,029.50 (close)New York – Dow:  UP 0.7 percent at 48,254.82 (close)Dollar/yen: DOWN at 154.67 yen from 154.80 yen on WednesdayEuro/dollar: UP at $1.1618 from $1.1587 Pound/dollar: UP at $1.3154 from $1.3129Euro/pound: UP at 88.32 pence from 88.25 penceBrent North Sea Crude: UP 0.5 percent at $63.02 per barrelWest Texas Intermediate: UP 0.5 percent at $58.77 per barrel

Asian markets rose on Thursday after Donald Trump signed a spending bill to end a record US government shutdown, while focus was also turning to Federal Reserve interest rates and tech bubble worries.Lawmakers in Washington voted on Wednesday night to send Trump legislation to end the stoppage that closed key services and suspended the release of data crucial to gauging the state of the world’s top economy.The US president put pen to paper later that day, allowing for the reopening of key services that were shut for 43 days as Democrats and Republicans refused to back down.Investors will now be able to get a long-awaited glimpse of the reports that have been held up by the closure, particularly the Fed as it decides whether or not to cut rates next month, as is widely expected.Even then, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies were unable to collect the necessary data.Still, Stephen Innes at SPI Asset Management wrote: “Reopening also doesn’t mean an instant snap-back to normal for the real economy. When you starve a system of staffing and pay for six weeks, the backlog doesn’t vanish just because a bill passed at 8 pm.”The shutdown ends with a vote and a signature; the aftershocks show up in queues, call centres and cash-flow stress far away from the Capitol dome.”Concerns also continue to mount that this year’s AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.Some have warned that the hundreds of billions invested in artificial intelligence has been overdone and the return could take time to come through.Observers suggested that the recent tepid performance in several high-flying firms may be a sign of that, with the Nasdaq dropping for two days.The S&P 500 has also struggled of late, although the Dow ended at a record on Wednesday amid speculation that traders are shifting from tech into industrials.However, Asia continued its healthy run-up this week after a tepid start.Tokyo, Hong Kong, Shanghai, Seoul, Singapore, Mumbai, Manila, Bangkok and Jakarta all rose. But Sydney, Wellington and Taipei fell.London dropped as data showed the UK economy grew less than expected in the third quarter, putting fresh pressure on the government ahead of a closely watched budget this month. Sterling weakened against the dollar following the news. Paris rose and Frankfurt was flat.Oil prices extended losses after plunging around four percent on Wednesday after OPEC’s monthly crude market report forecast an oversupply in the third quarter.That came just a month after it had predicted a deficit in the period. The commodity has come under pressure of late amid easing tensions in the Middle East and increasing output by OPEC and other key producers. The International Energy Agency has estimated a record surplus in 2026.Attention is also on Tokyo after Japanese Finance Minister Satsuki Katayama said on Wednesday the government was keeping an eye on currency markets as the yen continued to weaken.She told parliament “the government is watching for any excessive and disorderly moves with a high sense of urgency”.The unit has weakened further to around 155 per dollar since her remarks, prompting speculation that authorities could step in to provide support.It has come under pressure following dovish comments from Japan’s central bank that tempered bets on another interest rate hike and as the United States moved towards reopening its government.- Key figures at around 0810 GMT -Tokyo – Nikkei 225: UP 0.4 percent at 51,281.83 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 27,073.03 (close)Shanghai – Composite: UP 0.7 percent at 4,029.50 (close)London – FTSE 100: DOWN 0.1 percent at 9,897.47 Dollar/yen: UP at 154.85 yen from 154.80 yen on WednesdayEuro/dollar: UP at $1.1610 from $1.1587 Pound/dollar: UP at $1.3142 from $1.3129Euro/pound: UP at 88.35 pence from 88.25 penceWest Texas Intermediate: DOWN 0.1 percent at $58.44 per barrelBrent North Sea Crude: DOWN 0.1 percent at $62.68 per barrelNew York – Dow:  UP 0.7 percent at 48,254.82 (close)